Why These 5 Stocks Are Immersed in a Sea of Red Today

Spectranetics Corp (NASDAQ:SPNC)’s shares are down by around 8% today. Although there is no particular news behind the move, the company continues its downward trend since the start of the year, and is close to its 52-week low. Among the funds we follow, 24 reported long positions in Spectranetics Corp (NASDAQ:SPNC) as of the end of September, up by two funds from a quarter earlier. Jacob Gottlieb‘s Visium Asset Management reported holding a $23.0 million position in the stock as of that time, comprising 0.31% of its 13F portfolio.

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LDR Holding Corp (NASDAQ:LDRH) is another company that is losing ground today, down by over 11%. This time around, investors are selling because analysts at Wells Fargo downgraded the medical device company to ‘Market Perform’ from ‘Outperform’. LDR Holding announced yesterday that it has made a minority investment in France’s Poly-Shape SAS which will lead to the development of spinal implants.

LDR Holding Corp (NASDAQ:LDRH) also lost popularity among the investors that we track in the third quarter. 11 funds held shares of the company on September 30, down by three funds over the quarter, and they amassed 10.9% of the float. Among them, Donald Chiboucis‘ Columbus Circle Investors was the largest shareholder, reporting ownership of 1.12 million shares in its latest 13F filing.

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