ShockWave Medical, Inc. (NASDAQ:SWAV) Given Average Rating of “Buy” by Brokerages

Shares of ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) have received an average recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $222.88.

Several equities research analysts have commented on SWAV shares. Wolfe Research started coverage on shares of ShockWave Medical in a report on Tuesday, April 5th. They issued an “outperform” rating and a $255.00 price target on the stock. Bank of America began coverage on shares of ShockWave Medical in a research note on Wednesday, March 2nd. They set a “buy” rating on the stock. Zacks Investment Research raised shares of ShockWave Medical from a “hold” rating to a “strong-buy” rating and set a $203.00 target price on the stock in a research note on Wednesday, January 12th. SVB Leerink increased their target price on shares of ShockWave Medical from $160.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, February 18th. Finally, Piper Sandler lowered their target price on shares of ShockWave Medical from $272.00 to $245.00 in a research note on Friday, February 18th.

NASDAQ:SWAV opened at $158.24 on Tuesday. ShockWave Medical has a one year low of $125.00 and a one year high of $249.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.71 and a current ratio of 5.54. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of -527.47 and a beta of 1.30. The firm’s fifty day moving average is $184.00 and its two-hundred day moving average is $181.76.

ShockWave Medical (NASDAQ:SWAVGet Rating) last posted its quarterly earnings results on Thursday, February 17th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.07 by $0.27. ShockWave Medical had a negative net margin of 3.85% and a negative return on equity of 4.18%. The company had revenue of $84.18 million for the quarter, compared to analyst estimates of $75.27 million. During the same period in the prior year, the company earned ($0.46) earnings per share. As a group, equities research analysts predict that ShockWave Medical will post 1.47 earnings per share for the current fiscal year.

In other ShockWave Medical news, VP Trinh Phung sold 565 shares of the stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $206.28, for a total value of $116,548.20. Following the completion of the sale, the vice president now owns 28,688 shares in the company, valued at approximately $5,917,760.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Isaac Zacharias sold 619 shares of the stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $160.36, for a total transaction of $99,262.84. Following the completion of the sale, the insider now owns 65,221 shares of the company’s stock, valued at approximately $10,458,839.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,859 shares of company stock valued at $17,048,004. Insiders own 15.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in SWAV. Allspring Global Investments Holdings LLC acquired a new stake in ShockWave Medical in the 4th quarter valued at about $168,314,000. Invesco Ltd. raised its holdings in ShockWave Medical by 116.1% in the 3rd quarter. Invesco Ltd. now owns 1,310,949 shares of the company’s stock valued at $269,897,000 after acquiring an additional 704,446 shares during the last quarter. Victory Capital Management Inc. raised its holdings in ShockWave Medical by 3,507.0% in the 4th quarter. Victory Capital Management Inc. now owns 261,324 shares of the company’s stock valued at $46,601,000 after acquiring an additional 254,079 shares during the last quarter. Morgan Stanley raised its holdings in ShockWave Medical by 113.8% in the 2nd quarter. Morgan Stanley now owns 354,403 shares of the company’s stock valued at $67,241,000 after acquiring an additional 188,626 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in ShockWave Medical by 5.5% in the 4th quarter. BlackRock Inc. now owns 2,716,533 shares of the company’s stock valued at $484,441,000 after acquiring an additional 142,368 shares during the last quarter. Institutional investors own 89.06% of the company’s stock.

ShockWave Medical Company Profile (Get Rating)

ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.

Further Reading

Analyst Recommendations for ShockWave Medical (NASDAQ:SWAV)

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