Insider Selling: The Spectranetics CFO Sells 5,000 Shares of Stock (SPNC)
The Spectranetics (NASDAQ:SPNC) CFO Guy A. Childs sold 5,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $22.00, for a total value of $110,000.00. Following the completion of the sale, the chief financial officer now directly owns 143,493 shares of the company’s stock, valued at approximately $3,156,846. The sale was disclosed in a filing with the SEC, which is available at this link.
SPNC has been the subject of a number of recent research reports. Analysts at CRT Capital reiterated a “buy” rating on shares of The Spectranetics in a research note on Wednesday, May 28th. They now have a $37.00 price target on the stock, up previously from $34.00. Separately, analysts at Zacks downgraded shares of The Spectranetics from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 30th. They now have a $20.10 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of The Spectranetics from $35.00 to $30.00 in a research note on Tuesday, April 8th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The Spectranetics has an average rating of “Hold” and an average price target of $26.23.
The Spectranetics (NASDAQ:SPNC) traded up 1.24% during mid-day trading on Thursday, hitting $21.99. 552,094 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 $22.61 and a 200-day moving average of $25.20. The company’s market cap is $913.3 million.
The Spectranetics (NASDAQ:SPNC) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported ($0.14) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.14). The company had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.91 million. During the same quarter last year, the company posted ($0.03) earnings per share. The Spectranetics’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that The Spectranetics will post $-0.23 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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