The stock of Spectranetics Corp (NASDAQ:SPNC) is a huge mover today! About 155,188 shares traded hands. Spectranetics Corp (NASDAQ:SPNC) has risen 49.31% since April 5, 2016 and is uptrending. It has outperformed by 47.35% the S&P500.
The move comes after 6 months positive chart setup for the $998.76 million company. It was reported on Nov, 8 by Barchart.com. We have $37.77 PT which if reached, will make NASDAQ:SPNC worth $659.18 million more.
Spectranetics Corp (NASDAQ:SPNC) Ratings Coverage
Out of 11 analysts covering Spectranetics (NASDAQ:SPNC), 9 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 82% are positive. Spectranetics has been the topic of 21 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Needham given on Friday, October 21. As per Friday, October 23, the company rating was maintained by Needham. The firm has “Buy” rating by Benchmark given on Tuesday, September 22. The stock of Spectranetics Corp (NASDAQ:SPNC) has “Buy” rating given on Thursday, February 25 by Dougherty & Company. Needham maintained Spectranetics Corp (NASDAQ:SPNC) on Friday, July 29 with “Strong Buy” rating. The stock of Spectranetics Corp (NASDAQ:SPNC) earned “Sell” rating by UBS on Tuesday, September 22. On Friday, July 24 the stock rating was maintained by Dougherty & Company with “Buy”. As per Tuesday, August 18, the company rating was upgraded by Needham. On Friday, July 24 the stock rating was maintained by Needham with “Buy”. Needham maintained it with “Buy” rating and $24 target price in Sunday, August 30 report.
According to Zacks Investment Research, “Spectranetics Corp. is a medical device company engaged in the development, manufacturing, marketing and distribution of its technology for interventional cardiovascular therapy. The Company’s CVX-300 excimer laser system is the only excimer laser system approved by the FDA for multiple cardiovascular procedures. The technology has been designed for use in multiple cardiovascular applications, including coronary angioplasty and the removal of pacemaker and ICD leads. (press release)”
Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.12, from 1.02 in 2016Q1. The ratio is positive, as 14 funds sold all Spectranetics Corp shares owned while 43 reduced positions. 24 funds bought stakes while 41 increased positions. They now own 41.19 million shares or 5.94% less from 43.80 million shares in 2016Q1.
Bridger Mgmt Ltd Limited Liability Company last reported 0.31% of its portfolio in the stock. Sei Invests has 0% invested in the company for 65 shares. Credit Suisse Ag holds 57,452 shares or 0% of its portfolio. Metropolitan Life Ny has 31,760 shares for 0% of their US portfolio. Tiaa Cref Inv Mgmt Ltd Llc, a New York-based fund reported 134,642 shares. Moreover, Endurant Capital Management Lp has 1.52% invested in Spectranetics Corp (NASDAQ:SPNC) for 243,626 shares. Neuberger Berman Gp Limited Liability Company has 50,000 shares for 0% of their US portfolio. Blackrock Group Inc Ltd accumulated 0% or 18,727 shares. Dafna Management Limited Co has 1.18% invested in the company for 79,812 shares. Bamco Ny holds 1.77 million shares or 0.18% of its portfolio. Engineers Gate Manager Ltd Partnership owns 58,348 shares or 0.08% of their US portfolio. Castleark Ltd Liability Co last reported 0.15% of its portfolio in the stock. Granahan Invest Management Ma holds 154,118 shares or 0.11% of its portfolio. Ghost Tree Capital Ltd Liability holds 375,000 shares or 2.03% of its portfolio. Marshall & Sullivan Incorporated Wa accumulated 1,000 shares or 0.02% of the stock.
Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 1 insider sale for $125,000 net activity. $125,000 worth of Spectranetics Corp (NASDAQ:SPNC) was sold by RUGGIO JOSEPH M.
Another recent and important Spectranetics Corp (NASDAQ:SPNC) news was published by Nasdaq.com which published an article titled: “Commit To Buy Spectranetics Corp. At $20, Earn 18.6% Annualized Using Options” on October 21, 2016.
SPNC Company Profile
The Spectranetics Corporation, incorporated on June 28, 1988, develops, makes, 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. The Company’s geographic divisions are U.S. Medical and International Medical. The Company’s product offerings in U.S. Medical segment include medical devices used in minimally invasive procedures within the cardiovascular system, including fiber-optic devices and non-fiber-optic products (disposables), an excimer laser system (equipment) and the service of the excimer laser system (service). The Company’s products are used in multiple vascular procedures, including peripheral atherectomy, crossing arterial blockages, coronary atherectomy and thrombectomy, and the removal of cardiac lead wires from patients with pacemakers and cardiac defibrillators. The Company’s International Medical segment is primarily engaged in distribution activities. It serves Europe, the Middle East, Asia Pacific, Latin America, and Puerto Rico.
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