Insider Selling: The Spectranetics CFO Unloads 5,000 Shares of Stock (SPNC)
The Spectranetics (NASDAQ:SPNC) CFO Guy A. Childs unloaded 5,000 shares of the stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $26.63, for a total value of $133,150.00. Following the sale, the chief financial officer now directly owns 144,857 shares of the company’s stock, valued at approximately $3,857,542. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SPNC shares. Analysts at Zacks upgraded shares of The Spectranetics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $27.30 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of The Spectranetics from $27.00 to $29.00 in a research note on Monday, July 21st. They now have a “buy” rating on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $26.92.
Shares of The Spectranetics (NASDAQ:SPNC) traded up 2.13% during mid-day trading on Friday, hitting $27.34. 683,517 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’s 50-day moving average is $24.75 and its 200-day moving average is $25.25. The company’s market cap is $1.137 billion.
The Spectranetics (NASDAQ:SPNC) last released its earnings data on Thursday, July 24th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.09) by $0.15. The company had revenue of $43.60 million for the quarter, compared to the consensus estimate of $42.60 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that The Spectranetics will post $-0.33 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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