Shockwave Medical, Inc. (NASDAQ:SWAV) Given Average Recommendation of “Hold” by Analysts

Shares of Shockwave Medical, Inc. (NASDAQ:SWAV) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $309.11.

A number of brokerages have recently commented on SWAV. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Leerink Partnrs cut Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Canaccord Genuity Group reissued a “hold” rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, Piper Sandler increased their target price on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd.

Insider Activity

In other news, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the sale, the director now owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Dan Puckett sold 3,406 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the sale, the chief financial officer now owns 27,732 shares of the company’s stock, valued at approximately $6,371,704.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the sale, the director now directly owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,813 shares of company stock valued at $22,863,919. 3.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Shockwave Medical

Several hedge funds have recently added to or reduced their stakes in the business. Robbins Farley boosted its stake in Shockwave Medical by 1.0% in the fourth quarter. Robbins Farley now owns 4,542 shares of the company’s stock valued at $866,000 after buying an additional 45 shares in the last quarter. Parallel Advisors LLC boosted its stake in Shockwave Medical by 3.8% in the fourth quarter. Parallel Advisors LLC now owns 1,268 shares of the company’s stock valued at $242,000 after buying an additional 47 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Shockwave Medical by 11.5% in the third quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after buying an additional 50 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Shockwave Medical by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock valued at $3,263,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Shockwave Medical Stock Performance

Shares of NASDAQ:SWAV opened at $330.00 on Friday. The stock has a market capitalization of $12.34 billion, a P/E ratio of 85.27, a P/E/G ratio of 2.44 and a beta of 0.92. Shockwave Medical has a 1-year low of $157.00 and a 1-year high of $331.58. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $294.88 and a two-hundred day moving average price of $233.25.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. The company had revenue of $202.98 million during the quarter, compared to analysts’ expectations of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. Shockwave Medical’s revenue was up 41.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.71 EPS. Equities analysts predict that Shockwave Medical will post 4.94 earnings per share for the current year.

About Shockwave Medical

Shockwave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters used in IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter used for IVL System in large diameter vessels.