Raymond James Financial, Inc. reiterated their market perform rating on shares of The Spectranetics Corporation (NASDAQ:SPNC) in a research note published on Tuesday, MarketBeat Ratings reports. They currently have a $28.00 price target on the medical equipment provider’s stock.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of The Spectranetics Corporation from a hold rating to a sell rating in a research report on Wednesday, May 3rd. Needham & Company LLC reiterated a buy rating and issued a $34.00 price objective (up from $32.00) on shares of The Spectranetics Corporation in a research report on Friday, April 28th. ValuEngine upgraded shares of The Spectranetics Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Northland Securities reiterated a buy rating and issued a $32.00 price objective on shares of The Spectranetics Corporation in a research report on Friday, April 28th. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $27.00 price objective on shares of The Spectranetics Corporation in a research report on Friday, April 28th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $34.14.

The Spectranetics Corporation (SPNC) opened at 38.45 on Tuesday. The firm has a 50-day moving average of $35.06 and a 200-day moving average of $29.33. The Spectranetics Corporation has a 1-year low of $19.80 and a 1-year high of $38.55. The firm’s market capitalization is $1.67 billion.

The Spectranetics Corporation (NASDAQ:SPNC) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.09. The Spectranetics Corporation had a negative return on equity of 63.11% and a negative net margin of 21.38%. The business had revenue of $69.70 million during the quarter, compared to the consensus estimate of $68.19 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, analysts expect that The Spectranetics Corporation will post ($1.14) earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new position in The Spectranetics Corporation during the first quarter valued at approximately $108,000. Bollard Group LLC bought a new position in The Spectranetics Corporation during the first quarter valued at approximately $146,000. Perkins Capital Management Inc. bought a new position in The Spectranetics Corporation during the first quarter valued at approximately $201,000. Janney Montgomery Scott LLC bought a new position in The Spectranetics Corporation during the first quarter valued at approximately $213,000. Finally, Aperio Group LLC bought a new position in The Spectranetics Corporation during the second quarter valued at approximately $261,000. 92.28% of the stock is currently owned by hedge funds and other institutional investors.

The Spectranetics Corporation Company 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.

Analyst Recommendations for The Spectranetics Corporation (NASDAQ:SPNC)

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