Needham & Company LLC Lowers The Spectranetics Price Target to $30.00 (SPNC)
Stock analysts at Needham & Company LLC lowered their price objective on shares of The Spectranetics (NASDAQ:SPNC) from $35.00 to $30.00 in a report issued on Tuesday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 14.90% from the company’s current price.
The Spectranetics (NASDAQ:SPNC) traded down 11.26% on Tuesday, hitting $23.17. 2,481,645 shares of the company’s stock traded hands. The Spectranetics has a one year low of $15.52 and a one year high of $31.94. The stock has a 50-day moving average of $29.33 and a 200-day moving average of $24.08. The company’s market cap is $954.8 million.
The Spectranetics (NASDAQ:SPNC) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.02 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.02. The company had revenue of $41.92 million for the quarter, compared to the consensus estimate of $41.01 million. During the same quarter last year, the company posted $0.02 earnings per share. The Spectranetics’s revenue was up 14.1% compared to the same quarter last year. Analysts expect that The Spectranetics will post $-0.09 EPS for the current fiscal year.
In other The Spectranetics news, CFO Guy Childs sold 5,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $29.21, for a total transaction of $146,050.00. Following the completion of the sale, the chief financial officer now directly owns 136,945 shares of the company’s stock, valued at approximately $4,000,163. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of The Spectranetics from $32.00 to $35.00 in a research note on Friday, March 28th. Separately, analysts at Stifel Nicolaus raised their price target on shares of The Spectranetics from $24.00 to $30.00 in a research note on Tuesday, February 25th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $25.50.
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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