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New Lifetime High Reached By Spectranetics Corporation (SPNC)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Spectranetics Corporation ( SPNC) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Spectranetics Corporation as such a stock due to the following factors:

  • SPNC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.7 million.
  • SPNC has traded 40,744 shares today.
  • SPNC is trading at a new lifetime high.

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More details on SPNC:

The Spectranetics Corporation, together with its subsidiaries, develops, manufactures, markets, and distributes single-use medical devices used in minimally invasive procedures in the cardiovascular system. Currently there are 6 analysts that rate Spectranetics Corporation a buy, 1 analyst rates it a sell, and none rate it a hold.

The average volume for Spectranetics Corporation has been 362,300 shares per day over the past 30 days. Spectranetics has a market cap of $1.3 billion and is part of the health care sector and health services industry. The stock has a beta of 1.14 and a short float of 5.3% with 6.72 days to cover. Shares are up 26.2% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Spectranetics Corporation as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 3.9%. Since the same quarter one year prior, revenues rose by 14.1%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
  • Compared to its closing price of one year ago, SPNC's share price has jumped by 61.18%, exceeding the performance of the broader market during that same time frame. Although SPNC had significant growth over the past year, our hold rating indicates that we do not recommend additional investment in this stock at the current time.
  • The gross profit margin for SPECTRANETICS CORP is currently very high, coming in at 73.34%. Regardless of SPNC's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, SPNC's net profit margin of 2.10% is significantly lower than the industry average.
  • SPECTRANETICS CORP reported flat earnings per share in the most recent quarter. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, SPECTRANETICS CORP swung to a loss, reporting -$0.02 versus $0.07 in the prior year. For the next year, the market is expecting a contraction of 400.0% in earnings (-$0.10 versus -$0.02).
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. Compared to other companies in the Health Care Equipment & Supplies industry and the overall market, SPECTRANETICS CORP's return on equity significantly trails that of both the industry average and the S&P 500.

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