Vanguard Group Inc. increased its holdings in Spectranetics Corp (NASDAQ:SPNC) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,906,462 shares of the medical equipment provider’s stock after purchasing an additional 63,451 shares during the period. Vanguard Group Inc. owned 4.38% of Spectranetics Corp worth $73,208,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Airain ltd purchased a new stake in shares of Spectranetics Corp in the second quarter valued at $3,265,000. Vivaldi Asset Management LLC purchased a new stake in shares of Spectranetics Corp in the second quarter valued at $2,535,000. Capital Fund Management S.A. purchased a new stake in shares of Spectranetics Corp in the second quarter valued at $4,619,000. Alpine Associates Management Inc. purchased a new stake in shares of Spectranetics Corp in the second quarter valued at $73,082,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Spectranetics Corp in the second quarter valued at $13,829,000. 91.95% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have recently commented on SPNC. Stifel Nicolaus downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their price objective for the company from $34.00 to $38.50 in a research report on Wednesday, August 9th. Needham & Company LLC downgraded Spectranetics Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Guggenheim downgraded Spectranetics Corp from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Canaccord Genuity cut Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their target price for the company from $37.00 to $38.50 in a report on Monday, July 10th. Finally, Northland Securities cut Spectranetics Corp from an “outperform” rating to a “market perform” rating in a report on Thursday, July 6th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $35.36.

Spectranetics Corp (SPNC) opened at 38.45 on Tuesday. Spectranetics Corp has a one year low of $19.80 and a one year high of $38.55. The company has a 50-day moving average price of $37.28 and a 200-day moving average price of $30.10.

Spectranetics Corp (NASDAQ:SPNC) last posted its quarterly earnings results 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). Spectranetics Corp had a negative return on equity of 194.18% and a negative net margin of 32.93%. The company had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. During the same period last year, the company posted ($0.35) earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Spectranetics Corp will post ($1.16) earnings per share for the current fiscal year.

Spectranetics Corp 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.

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

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