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The Spectranetics (SPNC) Crumbles: Stock Falls by 8.1%

Zacks Equity Research

The Spectranetics Corporation (SPNC) saw a big move last session, as the company’s shares fell nearly 8% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $20.78–$24.36 in the past one-month time frame, showed a sharp decline yesterday at $22.39.

The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. There has been no estimate revision on either side and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

SPNC currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is -12.50%.

Some better-ranked stocks in the healthcare sector include Omnicare Inc. (OCR), Edwards Lifesciences Corp. (EW) and Medivation, Inc. (MDVN). All these stocks carry a Zacks Rank #2 (Buy).

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SPECTRANETICS CP (SPNC): Free Stock Analysis Report

OMNICARE INC (OCR): Free Stock Analysis Report

EDWARDS LIFESCIENCES CORP (EW): Free Stock Analysis Report

MEDIVATION INC (MDVN): Free Stock Analysis Report

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