Todays Report: The Spectranetics Corp. (SPNC) PT Set at $30.00 by Canaccord Genuity

The Spectranetics Corp. (SPNC) PT Set at $30.00 by Canaccord Genuity

The Spectranetics Corp. (NASDAQ:SPNC) has been given a $30.00 price target by analysts at Canaccord Genuity in a report issued on Wednesday. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 28.76% from the company’s previous close.

A number of other research firms have also recently commented on SPNC. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $26.00 price target on shares of The Spectranetics Corp. in a research note on Saturday, August 13th. Needham & Company LLC cut The Spectranetics Corp. from a “strong-buy” rating to a “buy” rating and set a $27.00 price objective for the company. in a research note on Tuesday, August 9th. Royal Bank Of Canada raised their price objective on The Spectranetics Corp. from $17.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Monday, August 1st. RBC Capital Markets restated a “sector perform” rating and issued a $24.00 price objective (up from $17.00) on shares of The Spectranetics Corp. in a research note on Monday, August 1st. Finally, TheStreet upgraded The Spectranetics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $24.08.

The Spectranetics Corp. (NASDAQ:SPNC) traded down 0.43% on Wednesday, hitting $23.30. 127,357 shares of the company’s stock traded hands. The stock’s market cap is $1.01 billion. The stock has a 50 day moving average price of $23.16 and a 200-day moving average price of $22.00. The Spectranetics Corp. has a 12 month low of $11.09 and a 12 month high of $25.81.

The Spectranetics Corp. (NASDAQ:SPNC) last released its quarterly earnings results on Thursday, October 27th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The Spectranetics Corp. had a negative return on equity of 43.16% and a negative net margin of 21.19%. The company earned $68.27 million during the quarter, compared to analysts’ expectations of $17.36 million. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that The Spectranetics Corp. will post ($1.08) earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake in shares of The Spectranetics Corp. by 0.7% in the second quarter. Prudential Financial Inc. now owns 14,146 shares of the company’s stock valued at $264,000 after buying an additional 100 shares during the last quarter. Accredited Investors Inc. raised its stake in shares of The Spectranetics Corp. by 0.7% in the second quarter. Accredited Investors Inc. now owns 40,279 shares of the company’s stock valued at $754,000 after buying an additional 279 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of The Spectranetics Corp. by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 155,442 shares of the company’s stock valued at $2,908,000 after buying an additional 515 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of The Spectranetics Corp. by 13.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,433 shares of the company’s stock valued at $102,000 after buying an additional 651 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of The Spectranetics Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,974 shares of the company’s stock valued at $112,000 after buying an additional 720 shares during the last quarter. 97.77% of the stock is currently owned by institutional investors.

The Spectranetics Corp. Company Profile

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