Wall Street analysts expect The Spectranetics Corporation (NASDAQ:SPNC) to post $73.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for The Spectranetics Corporation’s earnings, with the highest sales estimate coming in at $73.93 million and the lowest estimate coming in at $72.77 million. The Spectranetics Corporation reported sales of $67.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The firm is scheduled to issue its next quarterly earnings report on Thursday, July 27th.

On average, analysts expect that The Spectranetics Corporation will report full year sales of $73.61 million for the current year, with estimates ranging from $297.66 million to $303.60 million. For the next financial year, analysts forecast that the company will post sales of $345.09 million per share, with estimates ranging from $325.84 million to $360.20 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover The Spectranetics Corporation.

The Spectranetics Corporation (NASDAQ:SPNC) last issued its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.09. The company had revenue of $69.70 million for the quarter, compared to analysts’ expectations of $68.19 million. The Spectranetics Corporation had a negative return on equity of 63.11% and a negative net margin of 21.38%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted ($0.32) EPS.

SPNC has been the subject of several recent research reports. Zacks Investment Research raised The Spectranetics Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. ValuEngine raised The Spectranetics Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered The Spectranetics Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.50 price objective on shares of The Spectranetics Corporation in a research note on Wednesday, June 28th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $32.00 price objective on shares of The Spectranetics Corporation in a research note on Friday, April 28th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.00.

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Several institutional investors have recently added to or reduced their stakes in SPNC. New England Private Wealth Advisors LLC raised its position in The Spectranetics Corporation by 0.4% in the first quarter. New England Private Wealth Advisors LLC now owns 26,497 shares of the medical equipment provider’s stock worth $772,000 after buying an additional 100 shares during the period. Clear Harbor Asset Management LLC raised its position in The Spectranetics Corporation by 1.1% in the first quarter. Clear Harbor Asset Management LLC now owns 28,110 shares of the medical equipment provider’s stock worth $819,000 after buying an additional 300 shares during the period. Quantitative Systematic Strategies LLC raised its position in The Spectranetics Corporation by 3.9% in the first quarter. Quantitative Systematic Strategies LLC now owns 11,058 shares of the medical equipment provider’s stock worth $322,000 after buying an additional 416 shares during the period. PEAK6 Investments L.P. raised its position in The Spectranetics Corporation by 7.6% in the first quarter. PEAK6 Investments L.P. now owns 11,526 shares of the medical equipment provider’s stock worth $336,000 after buying an additional 816 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in The Spectranetics Corporation by 0.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 171,443 shares of the medical equipment provider’s stock worth $4,994,000 after buying an additional 889 shares during the period. 92.50% of the stock is owned by hedge funds and other institutional investors.

Shares of The Spectranetics Corporation (SPNC) traded down 0.065% during mid-day trading on Friday, reaching $38.375. The company had a trading volume of 676,985 shares. The Spectranetics Corporation has a one year low of $18.56 and a one year high of $38.50. The firm has a 50 day moving average of $28.96 and a 200-day moving average of $27.36. The stock’s market capitalization is $1.67 billion.

The Spectranetics Corporation Company Profile

The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are used to cross, prepare and treat arterial blockages in the heart and legs and to manage pacemaker and defibrillator cardiac leads.

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Earnings History and Estimates for The Spectranetics Corporation (NASDAQ:SPNC)

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