Ameriprise Financial Inc. Has $9.50 Million Stake in Spectranetics Corp (SPNC)
Ameriprise Financial Inc. grew its stake in shares of Spectranetics Corp (NASDAQ:SPNC) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,506 shares of the medical equipment provider’s stock after buying an additional 32,561 shares during the period. Ameriprise Financial Inc. owned 0.57% of Spectranetics Corp worth $9,504,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Spectranetics Corp during the first quarter valued at about $108,000. Keybank National Association OH bought a new stake in shares of Spectranetics Corp during the second quarter valued at about $235,000. Vivaldi Capital Management LLC bought a new stake in shares of Spectranetics Corp during the second quarter valued at about $243,341,000. BNP Paribas Arbitrage SA increased its position in shares of Spectranetics Corp by 202.9% during the second quarter. BNP Paribas Arbitrage SA now owns 6,433 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 4,309 shares during the period. Finally, Aperio Group LLC bought a new stake in shares of Spectranetics Corp during the second quarter valued at about $261,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.
SPNC has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $38.50 price target on shares of Spectranetics Corp in a research report on Wednesday, June 28th. Canaccord Genuity cut Spectranetics Corp from a “buy” rating to a “hold” rating and upped their price target for the company from $37.00 to $38.50 in a research report on Monday, July 10th. Raymond James Financial, Inc. restated a “market perform” rating and issued a $28.00 price objective on shares of Spectranetics Corp in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $27.00 price objective on shares of Spectranetics Corp in a research report on Monday, July 24th. Finally, BidaskClub cut shares of Spectranetics Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $35.36.
Spectranetics Corp (NASDAQ SPNC) opened at 38.45 on Friday. Spectranetics Corp has a 52-week low of $19.80 and a 52-week high of $38.55. The company has a 50 day moving average of $37.28 and a 200 day moving average of $30.10.
Spectranetics Corp (NASDAQ:SPNC) last issued its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.29). The business had revenue of $74.71 million for the quarter, compared to the consensus estimate of $73.82 million. Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted ($0.35) EPS. Analysts forecast that Spectranetics Corp will post ($1.16) EPS for the current fiscal year.
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Spectranetics Corp Profile
The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are used to cross, prepare and treat arterial blockages in the heart and legs and to manage pacemaker and defibrillator cardiac leads.
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