California Public Employees Retirement System lifted its position in shares of Spectranetics Corp (NASDAQ:SPNC) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,300 shares of the medical equipment provider’s stock after acquiring an additional 1,100 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of Spectranetics Corp worth $2,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPNC. Alpine Associates Management Inc. acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at $73,082,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at $20,643,000. ARP Americas LLC acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at $15,266,000. TimesSquare Capital Management LLC acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at $13,829,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at $13,388,000. 91.95% of the stock is currently owned by institutional investors.

Several research analysts have commented on SPNC shares. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a $28.00 target price on shares of Spectranetics Corp in a report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $27.00 target price on shares of Spectranetics Corp in a report on Monday, July 24th. Stifel Nicolaus downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their target price for the stock from $34.00 to $38.50 in a report on Wednesday, August 9th. Needham & Company LLC downgraded Spectranetics Corp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Guggenheim downgraded Spectranetics Corp from a “buy” rating to a “neutral” rating in a report on Friday, August 4th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. Spectranetics Corp currently has an average rating of “Hold” and an average price target of $35.36.

Spectranetics Corp (NASDAQ:SPNC) last posted its 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). The firm had revenue of $74.71 million for 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%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share.

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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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