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 company’s stock on the open market in a transaction dated Thursday, September 4th. The stock was sold at an average price of $28.95, for a total value of $144,750.00. Following the transaction, the chief financial officer now directly owns 144,857 shares of the company’s stock, valued at approximately $4,193,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SPNC has been the subject of a number of recent research reports. 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. 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.41.
Shares of The Spectranetics (NASDAQ:SPNC) traded down 1.71% on Thursday, hitting $28.22. The stock had a trading volume of 298,746 shares. The Spectranetics has a 52 week low of $15.54 and a 52 week high of $31.94. The stock has a 50-day moving average of $27.19 and a 200-day moving average of $25.61. The company’s market cap is $1.176 billion.
The Spectranetics (NASDAQ:SPNC) last released its earnings data on Thursday, July 24th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that The Spectranetics will post $-0.33 EPS 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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