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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash to Debt No Debt
SPNC's Cash to Debt is ranked higher than
80% of the 377 Companies
in the Global Medical Devices industry.

( Industry Median: 6.28 vs. SPNC: No Debt )
SPNC' s 10-Year Cash to Debt Range
Min: 1.68   Max: No Debt
Current: No Debt

Equity to Asset 0.88
SPNC's Equity to Asset is ranked higher than
93% of the 358 Companies
in the Global Medical Devices industry.

( Industry Median: 0.64 vs. SPNC: 0.88 )
SPNC' s 10-Year Equity to Asset Range
Min: 0.53   Max: 0.88
Current: 0.88

0.53
0.88
Interest Coverage 6.79
SPNC's Interest Coverage is ranked lower than
54% of the 222 Companies
in the Global Medical Devices industry.

( Industry Median: 205.72 vs. SPNC: 6.79 )
SPNC' s 10-Year Interest Coverage Range
Min: 1.05   Max: 9999.99
Current: 6.79

1.05
9999.99
F-Score: 5
Z-Score: 23.36
M-Score: -2.25
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 0.25
SPNC's Operating margin (%) is ranked higher than
60% of the 363 Companies
in the Global Medical Devices industry.

( Industry Median: 6.75 vs. SPNC: 0.25 )
SPNC' s 10-Year Operating margin (%) Range
Min: -60.53   Max: 4.35
Current: 0.25

-60.53
4.35
Net-margin (%) -0.23
SPNC's Net-margin (%) is ranked higher than
61% of the 363 Companies
in the Global Medical Devices industry.

( Industry Median: 5.06 vs. SPNC: -0.23 )
SPNC' s 10-Year Net-margin (%) Range
Min: -93.86   Max: 23.17
Current: -0.23

-93.86
23.17
ROE (%) -0.19
SPNC's ROE (%) is ranked higher than
61% of the 363 Companies
in the Global Medical Devices industry.

( Industry Median: 5.79 vs. SPNC: -0.19 )
SPNC' s 10-Year ROE (%) Range
Min: -55.34   Max: 22.1
Current: -0.19

-55.34
22.1
ROA (%) -0.17
SPNC's ROA (%) is ranked higher than
63% of the 377 Companies
in the Global Medical Devices industry.

( Industry Median: 3.38 vs. SPNC: -0.17 )
SPNC' s 10-Year ROA (%) Range
Min: -37.02   Max: 15.19
Current: -0.17

-37.02
15.19
ROC (Joel Greenblatt) (%) 0.89
SPNC's ROC (Joel Greenblatt) (%) is ranked higher than
62% of the 376 Companies
in the Global Medical Devices industry.

( Industry Median: 12.75 vs. SPNC: 0.89 )
SPNC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -94.79   Max: 27.62
Current: 0.89

-94.79
27.62
Revenue Growth (%) 4.60
SPNC's Revenue Growth (%) is ranked higher than
70% of the 278 Companies
in the Global Medical Devices industry.

( Industry Median: 5.40 vs. SPNC: 4.60 )
SPNC' s 10-Year Revenue Growth (%) Range
Min: -3.7   Max: 29.4
Current: 4.6

-3.7
29.4
EBITDA Growth (%) 46.00
SPNC's EBITDA Growth (%) is ranked higher than
96% of the 249 Companies
in the Global Medical Devices industry.

( Industry Median: -3.70 vs. SPNC: 46.00 )
SPNC' s 10-Year EBITDA Growth (%) Range
Min: -53.6   Max: 122.4
Current: 46

-53.6
122.4
EPS Growth (%) -70.50
SPNC's EPS Growth (%) is ranked lower than
54% of the 233 Companies
in the Global Medical Devices industry.

( Industry Median: -2.80 vs. SPNC: -70.50 )
SPNC' s 10-Year EPS Growth (%) Range
Min: -70.5   Max: 101.7
Current: -70.5

-70.5
101.7
» SPNC's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

SPNC Guru Trades in Q1 2013

Steven Cohen 900 sh (New)
» More
Q2 2013

SPNC Guru Trades in Q2 2013

Jim Simons 87,100 sh (New)
Chuck Royce 300 sh (New)
RS Investment Management 651,639 sh (New)
Steven Cohen 78,087 sh (+8576.33%)
» More
Q3 2013

SPNC Guru Trades in Q3 2013

Paul Tudor Jones 19,600 sh (New)
Steven Cohen 647,209 sh (+728.83%)
Chuck Royce 300 sh (unchged)
RS Investment Management Sold Out
Jim Simons 64,000 sh (-26.52%)
» More
Q4 2013

SPNC Guru Trades in Q4 2013

Ron Baron 10,780 sh (New)
Jim Simons 70,222 sh (+9.72%)
Paul Tudor Jones Sold Out
Chuck Royce Sold Out
Steven Cohen 420,051 sh (-35.1%)
» More
» Details

Insider Trades

Latest Guru Trades with SPNC

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2013-12-31 New Buy$17.2 - $25.43 $ 24.5715%10780
George Soros 2011-09-30 Sold Out 0.0012%$5.6 - $7.62 $ 24.57277%0
George Soros 2011-06-30 New Buy$4.68 - $6.21 $ 24.57340%13300
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on Spectranetics Corp

Baron Funds Comments on Spectranetics Corporation - Feb 26, 2014

The Spectranetics Corporation (SPNC) is a manufacturer of medical devices that assist in the treatment of peripheral arterial disease and also with the removal of coronary leads used for implanted devices such as pacemakers and defibrillators. Shares were up 46% in the quarter. Most of the company's devices use disposable products that lead to a highly recurring revenue stream. The company is on the verge of opening up large new markets with the expected 2014 approval of a new laser based device that can open up arteries that have previously been stented. If approved, it will be the only device on the market that has this capability.



From Ron Baron (Trades, Portfolio)'s Baron Funds fourth quarter 2013 letter to shareholders.

Check out Ron Baron latest stock trades

Top Ranked Articles about Spectranetics Corp

Baron Funds Comments on Spectranetics Corporation
The Spectranetics Corporation (SPNC) is a manufacturer of medical devices that assist in the treatment of peripheral arterial disease and also with the removal of coronary leads used for implanted devices such as pacemakers and defibrillators. Shares were up 46% in the quarter. Most of the company's devices use disposable products that lead to a highly recurring revenue stream. The company is on the verge of opening up large new markets with the expected 2014 approval of a new laser based device that can open up arteries that have previously been stented. If approved, it will be the only device on the market that has this capability. Read more...

Ratios

vs
industry
vs
history
P/B 5.00
SPNC's P/B is ranked lower than
59% of the 355 Companies
in the Global Medical Devices industry.

( Industry Median: 3.20 vs. SPNC: 5.00 )
SPNC' s 10-Year P/B Range
Min: 0.78   Max: 13.1
Current: 5

0.78
13.1
P/S 5.60
SPNC's P/S is ranked lower than
71% of the 378 Companies
in the Global Medical Devices industry.

( Industry Median: 2.80 vs. SPNC: 5.60 )
SPNC' s 10-Year P/S Range
Min: 0.69   Max: 8.47
Current: 5.6

0.69
8.47
EV-to-EBIT 200.00
SPNC's EV-to-EBIT is ranked lower than
73% of the 291 Companies
in the Global Medical Devices industry.

( Industry Median: 20.80 vs. SPNC: 200.00 )
SPNC' s 10-Year EV-to-EBIT Range
Min: 3.2   Max: 2925
Current: 200

3.2
2925

Valuation & Return

vs
industry
vs
history
Price/Net Cash 9.95
SPNC's Price/Net Cash is ranked higher than
60% of the 117 Companies
in the Global Medical Devices industry.

( Industry Median: 13.75 vs. SPNC: 9.95 )
SPNC' s 10-Year Price/Net Cash Range
Min: 9.99   Max: 131.3
Current: 9.95

9.99
131.3
Price/Net Current Asset Value 8.00
SPNC's Price/Net Current Asset Value is ranked higher than
57% of the 171 Companies
in the Global Medical Devices industry.

( Industry Median: 8.80 vs. SPNC: 8.00 )
SPNC' s 10-Year Price/Net Current Asset Value Range
Min: 4.14   Max: 179
Current: 8

4.14
179
Price/Tangible Book 5.95
SPNC's Price/Tangible Book is ranked lower than
58% of the 326 Companies
in the Global Medical Devices industry.

( Industry Median: 4.40 vs. SPNC: 5.95 )
SPNC' s 10-Year Price/Tangible Book Range
Min: 0.97   Max: 11.03
Current: 5.95

0.97
11.03
Price/DCF (Projected) 7.04
SPNC's Price/DCF (Projected) is ranked lower than
71% of the 177 Companies
in the Global Medical Devices industry.

( Industry Median: 2.00 vs. SPNC: 7.04 )
SPNC' s 10-Year Price/DCF (Projected) Range
Min: 5.55   Max: 56.25
Current: 7.04

5.55
56.25
Price/Median PS Value 1.57
SPNC's Price/Median PS Value is ranked lower than
67% of the 334 Companies
in the Global Medical Devices industry.

( Industry Median: 1.10 vs. SPNC: 1.57 )
SPNC' s 10-Year Price/Median PS Value Range
Min: 0.21   Max: 1.94
Current: 1.57

0.21
1.94
Forward Rate of Return (Yacktman) -0.29
SPNC's Forward Rate of Return (Yacktman) is ranked higher than
73% of the 261 Companies
in the Global Medical Devices industry.

( Industry Median: 1.31 vs. SPNC: -0.29 )
SPNC' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -6.2   Max: -0.3
Current: -0.29

-6.2
-0.3

Business Description

Industry: Medical Devices » Medical Devices
Compare:MDT, SYK, SMA, ZMH, STJ » details
Traded in other countries:SC7.Germany
Spectranetics Corporation is incorporated under the laws of Delaware and formed in 1984. The Company develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company has two operating segments that are identified on a geographic basis: (1) U.S. Medical and (2) International Medical. U.S. Medical and International Medical offer the same products and services but operate in different geographic regions, have different distribution networks and different regulatory environments. Its products are used to treat arterial blockages in the heart and legs and to remove pacemaker and defibrillator cardiac leads. Approximately 66% of its disposable product revenue is from products used in connection with its proprietary excimer laser system, the CVX-300. Its single-use laser catheters contain up to 250 small diameters, flexible optical fibers that can access difficult to reach peripheral and coronary anatomy and produce evenly distributed laser energy at the tip of the catheter for more uniform ablation. Its disposable products are focused in two categories: Vascular Intervention (VI) and Lead Management (LM). Vascular Intervention products include; support catheters to facilitate crossing of peripheral and coronary arterial blockages, and retrograde access and guidewire retrieval devices used in the treatment of peripheral arterial blockages, including chronic total occlusions, drug delivery catheters for vascular delivery of drugs and diagnostic agents. Lead Management products include: excimer laser sheaths; non-laser sheaths; and cardiac lead management accessories for the removal of pacemaker and defibrillator cardiac leads. Its competitors are manufacturers of products used in competing therapies within the peripheral and coronary atherectomy markets, such as: atherectomy and thrombectomy, using mechanical methods to remove arterial blockages, balloon angioplasty and stents, specialty balloon angioplasty, bypass surgery and amputation. The Company's products are medical devices subject to extensive regulation by the FDA under the Federal Food, Drug, and Cosmetic Act, or FDCA. FDA regulations govern.

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