The Manufacturers Life Insurance Company increased its stake in Spectranetics Corp (NASDAQ:SPNC) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,602 shares of the medical equipment provider’s stock after acquiring an additional 473 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Spectranetics Corp worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Redmile Group LLC grew its position in Spectranetics Corp by 13.9% in the second quarter. Redmile Group LLC now owns 634,802 shares of the medical equipment provider’s stock worth $24,376,000 after acquiring an additional 77,613 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Spectranetics Corp by 15,346.2% in the second quarter. Cubist Systematic Strategies LLC now owns 8,032 shares of the medical equipment provider’s stock worth $308,000 after acquiring an additional 7,980 shares in the last quarter. Tyrus Capital S.A.M. purchased a new position in Spectranetics Corp in the second quarter worth about $5,990,000. BlueCrest Capital Management Ltd purchased a new position in Spectranetics Corp in the second quarter worth about $258,000. Finally, State Street Corp grew its position in Spectranetics Corp by 7.9% in the second quarter. State Street Corp now owns 900,317 shares of the medical equipment provider’s stock worth $34,574,000 after acquiring an additional 66,017 shares in the last quarter. Institutional investors own 91.95% of the company’s stock.

Shares of Spectranetics Corp (NASDAQ:SPNC) opened at $38.45 on Friday. The company has a debt-to-equity ratio of 7.61, a quick ratio of 1.43 and a current ratio of 1.92. Spectranetics Corp has a 12 month low of $19.80 and a 12 month high of $38.55.

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Spectranetics Corp from a “buy” rating to a “hold” rating and raised their price objective for the stock from $34.00 to $38.50 in a research note on Wednesday, August 9th. Raymond James Financial, Inc. downgraded shares of Spectranetics Corp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. Guggenheim downgraded shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $27.00 price objective on shares of Spectranetics Corp in a research note on Monday, July 24th. Finally, Needham & Company LLC downgraded shares of Spectranetics Corp from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.36.

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About Spectranetics Corp

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.

Institutional Ownership by Quarter for Spectranetics Corp (NASDAQ:SPNC)

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