Revenue Update on Spectranetics Corp(NASDAQ:SPNC)

Spectranetics Corp(NASDAQ:SPNC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $67.75M. Analysts estimated a revenue of $65.18M. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.27.

In a different note, Guggenheim Securities said it Initiates Coverage on Spectranetics Corp, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Buy’ by the firm.

Spectranetics Corp (SPNC) made into the market gainers list on Thursdays trading session with the shares advancing 2.07% or 0.49 points. Due to strong positive momentum, the stock ended at $24.16, which is also near the day’s high of $24.23. The stock began the session at $23.65 and the volume stood at 6,83,187 shares. The 52-week high of the shares is $24.5 and the 52 week low is $10.65. The company has a current market capitalization of $1,038 M and it has 4,29,59,354 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 9, 2015, Scott William Drake (CEO) purchased 38,000 shares at $13.24 per share price.Also, On Nov 6, 2015, B Kristine Johnson (director) purchased 2,000 shares at $12.99 per share price.On Oct 29, 2015, R John Fletcher (director) purchased 8,240 shares at $12.04 per share price, according to the Form-4 filing with the securities and exchange commission.

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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