TIAA CREF Investment Management LLC reduced its stake in shares of Spectranetics Corp (NASDAQ:SPNC) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,643 shares of the medical equipment provider’s stock after selling 9,972 shares during the period. TIAA CREF Investment Management LLC owned 0.33% of Spectranetics Corp worth $4,213,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of SPNC. Teachers Advisors LLC increased its stake in shares of Spectranetics Corp by 1.3% in the first quarter. Teachers Advisors LLC now owns 80,319 shares of the medical equipment provider’s stock valued at $2,339,000 after buying an additional 1,018 shares in the last quarter. FIL Ltd purchased a new stake in shares of Spectranetics Corp during the first quarter valued at approximately $2,459,000. FMR LLC increased its stake in shares of Spectranetics Corp by 4.6% in the first quarter. FMR LLC now owns 5,622,416 shares of the medical equipment provider’s stock valued at $163,753,000 after buying an additional 245,654 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Spectranetics Corp by 2.8% in the first quarter. Wellington Management Group LLP now owns 1,190,483 shares of the medical equipment provider’s stock valued at $34,672,000 after buying an additional 32,876 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of Spectranetics Corp by 82.6% in the first quarter. OppenheimerFunds Inc. now owns 1,141,402 shares of the medical equipment provider’s stock valued at $33,243,000 after buying an additional 516,260 shares in the last quarter. Institutional investors own 91.95% of the company’s stock.
Spectranetics Corp (NASDAQ SPNC) remained flat at $38.45 during trading on Friday. 1,728,937 shares of the stock were exchanged. The company’s 50 day moving average is $37.28 and its 200-day moving average is $30.10. Spectranetics Corp has a 1-year low of $19.80 and a 1-year high of $38.55.
Spectranetics Corp (NASDAQ:SPNC) last announced its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.29. The business had revenue of $74.71 million during the quarter, compared to analysts’ expectations of $73.82 million. Spectranetics Corp had a negative return on equity of 194.18% and a negative net margin of 32.93%. Spectranetics Corp’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. Equities analysts forecast that Spectranetics Corp will post ($1.16) EPS for the current year.
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Several brokerages have recently commented on SPNC. Stifel Nicolaus downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and raised their target price for the company from $34.00 to $38.50 in a research note on Wednesday, August 9th. Guggenheim downgraded Spectranetics Corp from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th. Needham & Company LLC downgraded Spectranetics Corp from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. downgraded Spectranetics Corp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $27.00 target price on shares of Spectranetics Corp in a research note on Monday, July 24th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.36.
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.
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