After so many years, it's interesting to see that there are still a few sell-side analysts willing to stick their heads out and support Spectranetics (SPNC). More than 25 years into its life as a medical device company, Spectranetics has yet to really carve out much more than niche applications for its laser ablation products. While the company may at last be in place to deliver some meaningful cash flow leverage, it looks like valuation is already ahead of the story.
Double-Digit Growth In Q4
Spectranetics delivered 11% growth in the fourth quarter, with 12% growth in its lead management business and 13% growth in its vascular business. Sales of disposables rose more than 12%, and the company placed an additional 8 laser units in the field (taking the total north of 1,000). To be fair, that's quite a good result when compared to other peripheral vascular companies like Bard (BCR), Covidien (COV), and Cardiovascular Solutions (CSII).
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Spectranetics Still Searching For Traction In Peripheral
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