Spectranetics Corp. Lowered to “Neutral” at Citigroup Inc. (SPNC)
Spectranetics Corp. (NASDAQ:SPNC) was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $26.00 price objective on the stock, up from their previous price objective of $21.00. Citigroup Inc.’s price objective would indicate a potential upside of 4.92% from the company’s current price.
SPNC has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Spectranetics Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, December 30th. They now have a $27.20 price target on the stock. Separately, analysts at CRT Capital initiated coverage on shares of Spectranetics Corp. in a research note to investors on Monday, November 25th. They set a “buy” rating and a $26.50 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Spectranetics Corp. from $26.00 to $30.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Spectranetics Corp. has an average rating of “Buy” and an average price target of $24.71.
In other Spectranetics Corp. news, CFO Guy Childs unloaded 5,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.90, for a total value of $124,500.00. Following the completion of the transaction, the chief financial officer now directly owns 138,945 shares of the company’s stock, valued at approximately $3,459,731. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Spectranetics Corp. (NASDAQ:SPNC) traded down 0.24% on Tuesday, hitting $24.78. The stock had a trading volume of 471,337 shares. Spectranetics Corp. has a one year low of $15.06 and a one year high of $25.60. The stock’s 50-day moving average is $23.83 and its 200-day moving average is $19.55. The company’s market cap is $1.015 billion.
Spectranetics Corp. (NASDAQ:SPNC) last announced its earnings results on Thursday, October 24th. The company reported $0.01 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.01. 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. On average, analysts predict that Spectranetics Corp. will post $-0.01 earnings per share for the current fiscal year.
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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