Metropolitan Life Insurance Co. NY Sells 1,532,117 Shares of Spectranetics Corp (NASDAQ:SPNC)

Metropolitan Life Insurance Co. NY cut its stake in shares of Spectranetics Corp (NASDAQ:SPNC) by 98.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,681 shares of the medical equipment provider’s stock after selling 1,532,117 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.07% of Spectranetics Corp worth $894,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. New England Private Wealth Advisors LLC raised its position in Spectranetics Corp 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 valued at $772,000 after buying an additional 100 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in Spectranetics Corp by 1.1% in the first quarter. Clear Harbor Asset Management LLC now owns 28,110 shares of the medical equipment provider’s stock valued at $819,000 after buying an additional 300 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in Spectranetics Corp by 3.9% in the first quarter. Quantitative Systematic Strategies LLC now owns 11,058 shares of the medical equipment provider’s stock valued at $322,000 after buying an additional 416 shares during the last quarter. PEAK6 Investments L.P. raised its position in Spectranetics Corp by 7.6% in the first quarter. PEAK6 Investments L.P. now owns 11,526 shares of the medical equipment provider’s stock valued at $336,000 after buying an additional 816 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Spectranetics Corp by 0.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 171,443 shares of the medical equipment provider’s stock valued at $4,994,000 after buying an additional 889 shares during the last quarter. Institutional investors own 91.95% of the company’s stock.

Spectranetics Corp (NASDAQ SPNC) opened at 38.45 on Friday. The stock has a 50 day moving average of $37.28 and a 200 day moving average of $30.10. Spectranetics Corp has a one year low of $19.80 and a one year high of $38.55.

Spectranetics Corp (NASDAQ:SPNC) last released its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.29. Spectranetics Corp had a negative return on equity of 194.18% and a negative net margin of 32.93%. The company had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. During the same period in the prior year, the business posted ($0.35) earnings per share. Spectranetics Corp’s revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that Spectranetics Corp will post ($1.16) EPS for the current year.

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Several research firms have weighed in on SPNC. Zacks Investment Research upgraded shares of Spectranetics Corp from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. UBS AG lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating and boosted their target price for the company from $33.00 to $38.50 in a report on Monday, July 10th. Needham & Company LLC lowered shares of Spectranetics Corp from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Northland Securities lowered shares of Spectranetics Corp from an “outperform” rating to a “market perform” rating in a report on Thursday, July 6th. Finally, Northcoast Research lowered shares of Spectranetics Corp from a “buy” rating to a “neutral” rating in a report on Thursday, June 29th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.36.

Spectranetics Corp 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.

Institutional Ownership by Quarter for Spectranetics Corp (NASDAQ:SPNC)

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