ShockWave Medical (NASDAQ:SWAV) Price Target Cut to $176.00

ShockWave Medical (NASDAQ:SWAVGet Rating) had its price objective reduced by stock analysts at Wells Fargo & Company from $235.00 to $176.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Wells Fargo & Company‘s target price indicates a potential upside of 51.84% from the company’s previous close.

Several other research analysts also recently weighed in on the company. TheStreet upgraded ShockWave Medical from a “d” rating to a “c” rating in a report on Monday, March 7th. Bank of America assumed coverage on ShockWave Medical in a report on Wednesday, March 2nd. They issued a “buy” rating for the company. Morgan Stanley cut their price target on ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating for the company in a report on Friday, February 18th. Zacks Investment Research upgraded ShockWave Medical from a “hold” rating to a “strong-buy” rating and set a $203.00 price objective for the company in a report on Wednesday, January 12th. Finally, Wolfe Research assumed coverage on ShockWave Medical in a report on Tuesday, April 5th. They set an “outperform” rating and a $255.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $213.78.

SWAV stock opened at $115.91 on Tuesday. The company has a 50 day moving average price of $181.35 and a two-hundred day moving average price of $179.78. 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 stock has a market capitalization of $4.15 billion, a P/E ratio of -386.37 and a beta of 1.50. ShockWave Medical has a one year low of $113.36 and a one year high of $249.73.

ShockWave Medical (NASDAQ:SWAVGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.20. The company had revenue of $93.70 million during the quarter, compared to the consensus estimate of $86.41 million. ShockWave Medical had a negative return on equity of 4.18% and a negative net margin of 3.85%. ShockWave Medical’s revenue was up 193.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.68) EPS. Research analysts forecast that ShockWave Medical will post 1.47 earnings per share for the current fiscal year.

In other news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $149.96, for a total value of $599,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Antoine Papiernik sold 60,000 shares of the stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $163.38, for a total value of $9,802,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,242 shares of company stock valued at $16,799,585. 15.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in ShockWave Medical by 104.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in ShockWave Medical during the 3rd quarter valued at approximately $38,000. AdvisorShares Investments LLC acquired a new stake in ShockWave Medical during the 1st quarter valued at approximately $40,000. PNC Financial Services Group Inc. grew its stake in ShockWave Medical by 30.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 202 shares of the company’s stock valued at $41,000 after purchasing an additional 47 shares in the last quarter. Finally, Signaturefd LLC grew its stake in ShockWave Medical by 73.6% during the 1st quarter. Signaturefd LLC now owns 224 shares of the company’s stock valued at $46,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other 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.

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