Spectranetics Corp. (SPNC) Announces Quarterly Results
Spectranetics Corp. (NASDAQ:SPNC) issued its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.01, Analyst Ratings Network reports. The company had revenue of $39.76 million for the quarter, compared to the consensus estimate of $38.97 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. Spectranetics Corp. updated its FY13 guidance to $0.00-0.01 EPS.
On the ratings front, analysts at JPMorgan Chase & Co. initiated coverage on shares of Spectranetics Corp. in a research note to investors on Wednesday, August 14th. They set an “overweight” rating and a $23.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.22.
Shares of Spectranetics Corp. (NASDAQ:SPNC) traded down 0.91% during mid-day trading on Thursday, hitting $18.60. 333,352 shares of the company’s stock traded hands. Spectranetics Corp. has a one year low of $13.12 and a one year high of $20.99. The stock has a 50-day moving average of $17.00 and a 200-day moving average of $18.38. The company’s market cap is $757.4 million.
The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system.
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