AQR Capital Management LLC Boosts Position in Spectranetics Corp (SPNC)

AQR Capital Management LLC boosted its position in shares of Spectranetics Corp (NASDAQ:SPNC) by 108.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,458 shares of the medical equipment provider’s stock after buying an additional 9,600 shares during the period. AQR Capital Management LLC’s holdings in Spectranetics Corp were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. PEAK6 Investments L.P. purchased a new stake in Spectranetics Corp during the fourth quarter worth approximately $262,000. A.R.T. Advisors LLC boosted its stake in Spectranetics Corp by 43.1% in the fourth quarter. A.R.T. Advisors LLC now owns 19,600 shares of the medical equipment provider’s stock worth $480,000 after buying an additional 5,900 shares during the period. US Bancorp DE boosted its stake in Spectranetics Corp by 943.1% in the third quarter. US Bancorp DE now owns 21,853 shares of the medical equipment provider’s stock worth $548,000 after buying an additional 19,758 shares during the period. Jane Street Group LLC purchased a new stake in Spectranetics Corp during the third quarter worth approximately $628,000. Finally, Acuta Capital Partners LLC purchased a new stake in Spectranetics Corp during the fourth quarter worth approximately $674,000. Institutional investors own 91.88% of the company’s stock.

Institutional Ownership by Quarter for Spectranetics Corp (NASDAQ:SPNC)

Shares of Spectranetics Corp (NASDAQ:SPNC) opened at 28.30 on Friday. Spectranetics Corp has a 12 month low of $15.69 and a 12 month high of $29.70. The firm has a 50-day moving average price of $28.22 and a 200-day moving average price of $25.38. The stock’s market cap is $1.22 billion.

Spectranetics Corp (NASDAQ:SPNC) last announced its quarterly earnings results on Thursday, February 23rd. The medical equipment provider reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.07. Spectranetics Corp had a negative return on equity of 43.16% and a negative net margin of 21.19%. The firm earned $71.90 million during the quarter, compared to analyst estimates of $70.10 million. During the same quarter in the previous year, the business earned ($0.19) EPS. Spectranetics Corp’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts forecast that Spectranetics Corp will post ($1.20) EPS for the current year.

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A number of analysts recently commented on the company. Zacks Investment Research cut Spectranetics Corp from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Royal Bank of Canada reiterated a “hold” rating and set a $25.00 price objective on shares of Spectranetics Corp in a research report on Friday, February 24th. Finally, Northcoast Research reiterated a “buy” rating on shares of Spectranetics Corp in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $26.43.

In other Spectranetics Corp news, CFO Stacy Powell Mcmahan sold 2,864 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $28.60, for a total transaction of $81,910.40. Following the completion of the sale, the chief financial officer now directly owns 17,411 shares in the company, valued at approximately $497,954.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Shahriar Matin sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $27.90, for a total value of $530,100.00. Following the sale, the chief operating officer now owns 138,450 shares of the company’s stock, valued at $3,862,755. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

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.

5 Day Chart for NASDAQ:SPNC

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