The Spectranetics Corporation (SPNC) has risen sharply, recording gains of 14.37% in the past 4 weeks. However, the stock has corrected -0.08% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 13.93% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The Spectranetics Corporation is up 49.79% in the last 3-month period. Year-to-Date the stock performance stands at 65.41%. The stock has recorded a 20-day Moving Average of 5.72% and the 50-Day Moving Average is 18.36%.
The Spectranetics Corporation (NASDAQ:SPNC): The stock opened at $25.26 on Friday but the bulls could not build on the opening and the stock topped out at $25.26 for the day. The stock traded down to $24.58 during the day, due to lack of any buying support eventually closed down at $24.91 with a loss of -1.39% for the day. The stock had closed at $25.26 on the previous day. The total traded volume was 404,794 shares.
Also, Equity analysts at the Brokerage firm UBS upgrades its rating on The Spectranetics Corporation (NASDAQ:SPNC). The rating major has initiated the coverage with buy rating on the shares. Earlier, the shares were rated a Sell by the brokerage firm. The Analysts at UBS raises the price target from $10 per share to $30 per share. The rating by the firm was issued on August 3, 2016.
The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Companys 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 Companys Lead Management business unit includes excimer laser sheaths, non-laser sheaths and cardiac lead management accessories.