Emerald Acquisition Ltd. purchased a new position in shares of The Spectranetics Corp. (NASDAQ:SPNC) during the second quarter, Holdings Channel reports. The fund purchased 39,055 shares of the company’s stock, valued at approximately $731,000. Emerald Acquisition Ltd. owned approximately 0.09% of The Spectranetics Corp. as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in 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 in the last quarter. Swiss National Bank boosted its stake in The Spectranetics Corp. by 2.5% in the second quarter. Swiss National Bank now owns 70,800 shares of the company’s stock worth $1,325,000 after buying an additional 1,700 shares in the last quarter. Iguana Healthcare Management LLC boosted its stake in 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 in the last quarter. Bridger Management LLC acquired a new stake in The Spectranetics Corp. during the first quarter worth $10,870,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in 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 in the last quarter. Institutional investors own 97.67% of the company’s stock.
The Spectranetics Corp. (NASDAQ:SPNC) traded down 1.24% during trading on Friday, hitting $23.81. The company had a trading volume of 148,958 shares. The Spectranetics Corp. has a 12 month low of $10.86 and a 12 month high of $25.81. The company’s 50 day moving average price is $24.49 and its 200-day moving average price is $20.63. The company’s market cap is $1.02 billion.
The Spectranetics Corp. (NASDAQ:SPNC) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. The Spectranetics Corp. had a negative net margin of 22.19% and a negative return on equity of 36.73%. The firm had revenue of $67.70 million for the quarter, compared to analyst estimates of $65.18 million. During the same quarter in the previous year, the business posted ($0.22) EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. Equities analysts expect that The Spectranetics Corp. will post ($1.10) earnings per share for the current year.
A number of research firms have weighed in on SPNC. Canaccord Genuity restated a “buy” rating and issued a $30.00 price target on shares of The Spectranetics Corp. in a research note on Friday, July 29th. TheStreet raised The Spectranetics Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Needham & Company LLC lowered The Spectranetics Corp. from a “strong-buy” rating to a “buy” rating and set a $27.00 price objective on the stock. in a report 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 report on Monday, August 1st. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $24.00 price objective (up previously from $17.00) on shares of The Spectranetics Corp. in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.67.
In other The Spectranetics Corp. news, Director Joseph M. Ruggio sold 5,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 83,186 shares in the company, valued at approximately $2,079,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by company insiders.
About The 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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