November 16, 2016 - By Clifton Ray · 0 Comments
The stock of Spectranetics Corporation (NASDAQ:SPNC) registered a decrease of 2.55% in short interest. SPNC’s total short interest was 4.25M shares in November as published by FINRA. Its down 2.55% from 4.36 million shares, reported previously. With 346,200 shares average volume, it will take short sellers 12 days to cover their SPNC’s short positions. The short interest to Spectranetics Corporation’s float is 10.12%. About 42,946 shares traded hands. Spectranetics Corp (NASDAQ:SPNC) has risen 39.20% since April 14, 2016 and is uptrending. It has outperformed by 34.52% the S&P500.
The Spectranetics Corporation develops, makes, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The company has a market cap of $1.02 billion. 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. It currently has negative earnings. The Company’s geographic divisions are U.S.
Insitutional Activity: The institutional sentiment increased to 1.14 in 2016 Q2. Its up 0.12, from 1.02 in 2016Q1. The ratio increased, as 14 funds sold all Spectranetics Corp shares owned while 43 reduced positions. 24 funds bought stakes while 41 increased positions. They now own 41.19 million shares or 5.94% less from 43.80 million shares in 2016Q1.
Ramsay Stattman Vela Price accumulated 29,072 shares or 0.27% of the stock. Partner Invest Management Limited Partnership reported 5,780 shares or 0.18% of all its holdings. Adage Cap Prtnrs Gp last reported 0.06% of its portfolio in the stock. Rhumbline Advisers last reported 49,911 shares in the company. Point72 Asset Mngmt L P holds 276,800 shares or 0.04% of its portfolio. Moreover, Jpmorgan Chase & has 0% invested in Spectranetics Corp (NASDAQ:SPNC) for 598 shares. Morgan Stanley holds 0% or 62,993 shares in its portfolio. Checchi Advisers Ltd last reported 15 shares in the company. The Kansas-based Creative Planning has invested 0% in Spectranetics Corp (NASDAQ:SPNC). Friess Assoc Ltd Liability holds 33,000 shares or 0.06% of its portfolio. Ghost Tree Cap has 2.03% invested in the company for 375,000 shares. Tfs Cap Ltd last reported 11,594 shares in the company. Sei Invs has 0% invested in the company for 65 shares. Bessemer Gru Inc has 304 shares for 0% of their US portfolio. Boston Private Wealth Ltd Company owns 23,625 shares or 0.02% of their US portfolio.
Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 1 sale for $125,000 net activity. RUGGIO JOSEPH M sold $125,000 worth of Spectranetics Corp (NASDAQ:SPNC) on Thursday, August 11.
Out of 11 analysts covering Spectranetics (NASDAQ:SPNC), 9 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 82% are positive. Spectranetics has been the topic of 21 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, October 21 by Needham. The company was maintained on Friday, October 23 by Needham. The firm has “Strong Buy” rating given on Friday, July 29 by Needham. The rating was initiated by Benchmark on Tuesday, September 22 with “Buy”. The stock has “Buy” rating given by Needham on Sunday, August 30. RBC Capital Markets initiated the shares of SPNC in a report on Friday, November 13 with “Sector Perform” rating. The firm earned “Outperform” rating on Thursday, July 30 by Northland Capital. The rating was initiated by UBS with “Sell” on Tuesday, September 22. As per Thursday, June 9, the company rating was initiated by Guggenheim. The company was maintained on Friday, February 26 by Stifel Nicolaus.
The Spectranetics Corporation, incorporated on June 28, 1988, develops, makes, 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. The Company’s geographic divisions are U.S. Medical and International Medical. The Company’s product offerings in U.S. Medical segment include medical devices used in minimally invasive procedures within the cardiovascular system, including fiber-optic devices and non-fiber-optic products (disposables), an excimer laser system (equipment) and the service of the excimer laser system (service). The Company’s products are used in multiple vascular procedures, including peripheral atherectomy, crossing arterial blockages, coronary atherectomy and thrombectomy, and the removal of cardiac lead wires from patients with pacemakers and cardiac defibrillators. The Company’s International Medical segment is primarily engaged in distribution activities. It serves Europe, the Middle East, Asia Pacific, Latin America, and Puerto Rico.
More news for Spectranetics Corp (NASDAQ:SPNC) were recently published by: Fool.com, which released: “Why Shares of Spectranetics Corp Crashed Today” on July 24, 2015. Nasdaq.com‘s article titled: “Commit To Buy Spectranetics Corp. At $20, Earn 18.6% Annualized Using Options” and published on October 21, 2016 is yet another important article.
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By Clifton Ray