Principal Financial Group Inc. Invests $883,000 in Spectranetics Corp (SPNC)

Principal Financial Group Inc. purchased a new stake in shares of Spectranetics Corp (NASDAQ:SPNC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,990 shares of the medical equipment provider’s stock, valued at approximately $883,000. Principal Financial Group Inc. owned about 0.05% of Spectranetics Corp at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SPNC. Ameritas Investment Partners Inc. acquired a new stake in shares of Spectranetics Corp during the 1st quarter valued at about $108,000. Keybank National Association OH acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at about $235,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Spectranetics Corp by 202.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,433 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 4,309 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at about $261,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Spectranetics Corp by 170.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 7,248 shares of the medical equipment provider’s stock valued at $277,000 after buying an additional 4,570 shares during the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.

Several equities research analysts have recently issued reports on SPNC shares. Canaccord Genuity lowered Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their price target for the company from $37.00 to $38.50 in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 price target on shares of Spectranetics Corp in a report on Monday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $38.50 price target on shares of Spectranetics Corp in a report on Wednesday, June 28th. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $28.00 price target on shares of Spectranetics Corp in a report on Tuesday, July 25th. Finally, BidaskClub upgraded Spectranetics Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.36.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/principal-financial-group-inc-invests-883000-in-spectranetics-corp-spnc.html.

Spectranetics Corp (SPNC) opened at 38.45 on Wednesday. Spectranetics Corp has a 12 month low of $19.80 and a 12 month high of $38.55. The firm has a 50-day moving average price of $37.28 and a 200 day moving average price of $30.10.

Spectranetics Corp (NASDAQ:SPNC) last released its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.29). Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The business had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Spectranetics Corp will post ($1.16) EPS for the current year.

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Several other institutional investors have also recently made changes to their positions in SPNC. Ameritas Investment Partners Inc. acquired a new stake in shares of Spectranetics Corp during the 1st quarter valued at about $108,000. Keybank National Association OH acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at about $235,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Spectranetics Corp by 202.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,433 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 4,309 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Spectranetics Corp during the 2nd quarter valued at about $261,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Spectranetics Corp by 170.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 7,248 shares of the medical equipment provider’s stock valued at $277,000 after buying an additional 4,570 shares during the last quarter. Institutional investors and hedge funds own 91.95% of the company’s stock.

Several equities research analysts have recently issued reports on SPNC shares. Canaccord Genuity lowered Spectranetics Corp from a “buy” rating to a “hold” rating and lifted their price target for the company from $37.00 to $38.50 in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 price target on shares of Spectranetics Corp in a report on Monday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $38.50 price target on shares of Spectranetics Corp in a report on Wednesday, June 28th. Raymond James Financial, Inc. reiterated a “market perform” rating and set a $28.00 price target on shares of Spectranetics Corp in a report on Tuesday, July 25th. Finally, BidaskClub upgraded Spectranetics Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.36.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/11/principal-financial-group-inc-invests-883000-in-spectranetics-corp-spnc.html.

Spectranetics Corp (SPNC) opened at 38.45 on Wednesday. Spectranetics Corp has a 12 month low of $19.80 and a 12 month high of $38.55. The firm has a 50-day moving average price of $37.28 and a 200 day moving average price of $30.10.

Spectranetics Corp (NASDAQ:SPNC) last released its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.29). Spectranetics Corp had a negative net margin of 32.93% and a negative return on equity of 194.18%. The business had revenue of $74.71 million during the quarter, compared to analyst estimates of $73.82 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Spectranetics Corp will post ($1.16) EPS for the current year.

About Spectranetics Corp

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

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