The Spectranetics Corporation (NASDAQ:SPNC) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Friday, MarketBeat.com reports.

Other equities analysts have also recently issued research reports about the stock. Northland Securities reaffirmed a “buy” rating and issued a $32.00 price target on shares of The Spectranetics Corporation in a research report on Friday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price (up previously from $32.00) on shares of The Spectranetics Corporation in a research report on Friday, April 28th. BidaskClub cut shares of The Spectranetics Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. ValuEngine raised shares of The Spectranetics Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of The Spectranetics Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.14.

The Spectranetics Corporation (NASDAQ:SPNC) remained flat at $38.50 during mid-day trading on Friday. 1,085,332 shares of the stock traded hands. The company has a 50-day moving average of $35.73 and a 200 day moving average of $29.59. The Spectranetics Corporation has a 1-year low of $19.80 and a 1-year high of $38.55. The stock’s market capitalization is $1.67 billion.

The Spectranetics Corporation (NASDAQ:SPNC) last announced its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.29. The Spectranetics Corporation had a negative net margin of 21.38% and a negative return on equity of 63.11%. The business had revenue of $74.71 million during the quarter, compared to the consensus estimate of $73.82 million. During the same period in the previous year, the business posted ($0.35) EPS. The Spectranetics Corporation’s revenue was up 10.3% compared to the same quarter last year. Equities analysts predict that The Spectranetics Corporation will post ($1.14) earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of The Spectranetics Corporation by 108.4% in the fourth quarter. AQR Capital Management LLC now owns 18,458 shares of the medical equipment provider’s stock valued at $452,000 after buying an additional 9,600 shares during the last quarter. Norges Bank bought a new stake in shares of The Spectranetics Corporation during the fourth quarter valued at about $1,141,000. Teachers Advisors LLC raised its stake in shares of The Spectranetics Corporation by 3.6% in the fourth quarter. Teachers Advisors LLC now owns 79,301 shares of the medical equipment provider’s stock valued at $1,943,000 after buying an additional 2,735 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of The Spectranetics Corporation during the first quarter valued at about $277,000. Finally, Perkins Capital Management Inc. bought a new stake in shares of The Spectranetics Corporation during the first quarter valued at about $201,000. Institutional investors own 90.88% of the company’s stock.

About The Spectranetics Corporation

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.

Analyst Recommendations for The Spectranetics Corporation (NASDAQ:SPNC)

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