Parametric Portfolio Associates LLC decreased its position in shares of Spectranetics Corp (NASDAQ:SPNC) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,228 shares of the medical equipment provider’s stock after selling 6,001 shares during the period. Parametric Portfolio Associates LLC owned 0.09% of Spectranetics Corp worth $1,430,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Spectranetics Corp by 3.4% during the second quarter. Vanguard Group Inc. now owns 1,906,462 shares of the medical equipment provider’s stock valued at $73,208,000 after purchasing an additional 63,451 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in Spectranetics Corp during the second quarter valued at $73,082,000. State Street Corp boosted its position in Spectranetics Corp by 3.7% during the first quarter. State Street Corp now owns 834,300 shares of the medical equipment provider’s stock valued at $24,302,000 after purchasing an additional 29,618 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Spectranetics Corp during the second quarter valued at $20,643,000. Finally, ARP Americas LLC acquired a new stake in shares of Spectranetics Corp in the second quarter worth about $15,266,000. 91.95% of the stock is owned by hedge funds and other institutional investors.
Spectranetics Corp (NASDAQ SPNC) opened at $38.45 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.43 and a debt-to-equity ratio of 7.61. Spectranetics Corp has a 12 month low of $19.80 and a 12 month high of $38.55.
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SPNC has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $27.00 price target on shares of Spectranetics Corp in a research report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $28.00 price target on shares of Spectranetics Corp in a research report on Tuesday, July 25th. Stifel Nicolaus cut Spectranetics Corp from a “buy” rating to a “hold” rating and boosted their price target for the stock from $34.00 to $38.50 in a research report on Wednesday, August 9th. Guggenheim cut Spectranetics Corp from a “buy” rating to a “neutral” rating in a research report on Friday, August 4th. Finally, Needham & Company LLC cut Spectranetics Corp from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Spectranetics Corp has a consensus rating of “Hold” and a consensus target price of $35.36.
Spectranetics Corp Company Profile
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.
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