CAM Group Holding A S held its position in shares of The Spectranetics Corp. (NASDAQ:SPNC) during the second quarter, Holdings Channel reports. The institutional investor owned 159,956 shares of the company’s stock at the end of the second quarter. CAM Group Holding A S’s holdings in The Spectranetics Corp. were worth $2,993,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its position 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 worth $102,000 after buying an additional 651 shares during the period. Iguana Healthcare Management LLC raised its position in shares of The Spectranetics Corp. by 113.3% in the first quarter. Iguana Healthcare Management LLC now owns 106,640 shares of the company’s stock worth $1,548,000 after buying an additional 56,640 shares during the period. Bridger Management LLC purchased a new position in shares of The Spectranetics Corp. during the first quarter worth $10,870,000. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of The Spectranetics Corp. by 4.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,250,000 shares of the company’s stock worth $18,150,000 after buying an additional 58,193 shares during the period. Institutional investors own 97.65% of the company’s stock.
Shares of The Spectranetics Corp. (NASDAQ:SPNC) traded down 1.27% during midday trading on Wednesday, hitting $23.30. The company’s stock had a trading volume of 237,807 shares. The stock’s 50 day moving average is $24.42 and its 200-day moving average is $20.80. The firm’s market cap is $998.20 million. The Spectranetics Corp. has a 52-week low of $10.86 and a 52-week high of $25.81.
The Spectranetics Corp. (NASDAQ:SPNC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The company had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $65.18 million. The Spectranetics Corp. had a negative net margin of 22.19% and a negative return on equity of 36.73%. The Spectranetics Corp.’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.22) EPS. Equities analysts predict that The Spectranetics Corp. will post ($1.10) EPS for the current fiscal year.
A number of equities analysts have recently weighed in on SPNC shares. Piper Jaffray Cos. increased their target price on The Spectranetics Corp. to $30.00 in a research note on Thursday, August 18th. Canaccord Genuity set a $26.00 target price on The Spectranetics Corp. and gave the stock a “buy” rating in a research note on Thursday, July 21st. Needham & Company LLC lowered The Spectranetics Corp. from a “strong-buy” rating to a “buy” rating and set a $27.00 target price on the stock. in a research note on Tuesday, August 9th. TheStreet upgraded The Spectranetics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $24.00 target price (up previously from $17.00) on shares of The Spectranetics Corp. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The Spectranetics Corp. has a consensus rating of “Buy” and a consensus target price of $23.67.
In related news, Director Joseph M. Ruggio sold 5,000 shares of The Spectranetics Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director now owns 83,186 shares of the company’s stock, valued at approximately $2,079,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.
The Spectranetics Corp. 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.
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