Accredited Investors buys $1,022,684 stake in Spectranetics Corp (SPNC)

Spectranetics Corp (SPNC) : Accredited Investors scooped up 279 additional shares in Spectranetics Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 40,279 shares of Spectranetics Corp which is valued at $1,022,684.Spectranetics Corp makes up approximately 0.27% of Accredited Investors’s portfolio.

Other Hedge Funds, Including , Secor Capital Advisors Lp added SPNC to its portfolio by purchasing 20,067 company shares during the most recent quarter which is valued at $509,501. Spectranetics Corp makes up approx 0.07% of Secor Capital Advisors Lp’s portfolio. Janney Montgomery Scott sold out all of its stake in SPNC during the most recent quarter. The investment firm sold 11,200 shares of SPNC which is valued $264,096.State Board Of Administration Of Florida Retirement System boosted its stake in SPNC in the latest quarter, The investment management firm added 1,147 additional shares and now holds a total of 35,583 shares of Spectranetics Corp which is valued at $839,047.Swiss National Bank boosted its stake in SPNC in the latest quarter, The investment management firm added 1,700 additional shares and now holds a total of 70,800 shares of Spectranetics Corp which is valued at $1,675,836.

Spectranetics Corp closed down -0.04 points or -0.16% at $24.78 with 2,95,538 shares getting traded on Wednesday. Post opening the session at $24.74, the shares hit an intraday low of $24.43 and an intraday high of $24.98 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Spectranetics Corp reported $-0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.28. The company had revenue of $67.70 million for the quarter, compared to analysts expectations of $65.18 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.

Many Wall Street Analysts have commented on Spectranetics Corp. Needham Downgraded Spectranetics Corp on Aug 9, 2016 to ” Buy”, Price Target of the shares are set at $27.Company shares were Upgraded by UBS on Aug 3, 2016 to ” Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $10 .Company shares were Reiterated by RBC Capital Mkts on Aug 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 24 from a previous price target of $17 .

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 treat arterial blockages in the heart and legs and to remove pacemaker and defibrillator cardiac leads. The Company offers excimer laser system known as the CVX-300. Its Vascular Intervention business unit includes a range of peripheral and cardiac laser catheters for ablation of blockages in arteries above and below the knee (peripheral atherectomy) and within coronary arteries (coronary atherectomy); support catheters to facilitate crossing of coronary and peripheral arterial blockages (crossing solutions); and thrombectomy catheters for the removal of thrombus (thrombus management). The Company’s Lead Management business unit includes excimer laser sheaths non-laser sheaths and cardiac lead management accessories.

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