Spectranetics Corp (SPNC) is Downgraded by Craig Hallum to Hold

Spectranetics Corp (SPNC) was Downgraded by Craig Hallum to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Craig Hallum advised their investors in a research report released on Apr 26, 2016.

Many Wall Street Analysts have commented on Spectranetics Corp. Shares were Reiterated by Stifel on Feb 26, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $25 .Shares were Reiterated by Needham on Feb 26, 2016 to “Strong Buy” and Lowered the Price Target to $ 21 from a previous price target of $22 .Shares were Reiterated by Dougherty & Company on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $33 .

On the company’s financial health, Spectranetics Corp reported $-0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.29. The company had revenue of $65.20 million for the quarter, compared to analysts expectations of $64.22 million. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Spectranetics Corp opened for trading at $17.39 and hit $18.06 on the upside on Friday, eventually ending the session at $17.75, with a gain of 2.19% or 0.38 points. The heightened volatility saw the trading volume jump to 4,18,669 shares. Company has a market cap of $758 M.

In a different news, on Nov 9, 2015, Scott William Drake (CEO) purchased 38,000 shares at $13.24 per share price. According to the SEC, 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.

Spectranetics Corp

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