Rothschild Asset Management Inc. Purchases New Position in Spectranetics Corp (NASDAQ:SPNC)

Rothschild Asset Management Inc. purchased a new stake in shares of Spectranetics Corp (NASDAQ:SPNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,471 shares of the medical equipment provider’s stock, valued at approximately $3,052,000. Rothschild Asset Management Inc. owned about 0.18% of Spectranetics Corp as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in shares of Spectranetics Corp by 170.6% in the second quarter. Great West Life Assurance Co. Can now owns 7,248 shares of the medical equipment provider’s stock worth $277,000 after buying an additional 4,570 shares during the period. Longfellow Investment Management Co. LLC acquired a new stake in shares of Spectranetics Corp during the second quarter worth about $1,771,000. Exane Asset Management acquired a new stake in shares of Spectranetics Corp during the second quarter worth about $346,000. Aperio Group LLC acquired a new stake in shares of Spectranetics Corp during the second quarter worth about $261,000. Finally, Virtu Financial LLC purchased a new stake in shares of Spectranetics Corp during the second quarter worth $1,239,000. Hedge funds and other institutional investors own 91.95% of the company’s stock.

Spectranetics Corp (NASDAQ SPNC) remained flat at $38.45 during trading on Friday. The stock had a trading volume of 1,728,937 shares. Spectranetics Corp has a 12-month low of $19.80 and a 12-month high of $38.55. The stock’s 50-day moving average is $37.28 and its 200-day moving average is $30.10.

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 analysts’ consensus estimates 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 analysts’ expectations of $73.82 million. During the same quarter in the previous year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Spectranetics Corp will post ($1.16) earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on SPNC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $38.50 target price on shares of Spectranetics Corp in a research report on Wednesday, June 28th. Northland Securities reiterated a “buy” rating and issued a $32.00 price target on shares of Spectranetics Corp in a report on Friday, April 28th. Canaccord Genuity downgraded Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their price target for the company from $37.00 to $38.50 in a report on Monday, July 10th. Zacks Investment Research upgraded Spectranetics Corp from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, BidaskClub downgraded Spectranetics Corp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.36.

About Spectranetics Corp

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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