ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) Director Frank T. Watkins sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $290.09, for a total transaction of $870,270.00. Following the completion of the sale, the director now owns 9,796 shares of the company's stock, valued at $2,841,721.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
ShockWave Medical Stock Down 9.1 %
Shares of SWAV opened at $258.84 on Friday. The firm's 50 day moving average is $263.66 and its 200-day moving average is $208.21. The stock has a market capitalization of $9.26 billion, a PE ratio of 177.29 and a beta of 1.06. The company has a current ratio of 5.32, a quick ratio of 4.41 and a debt-to-equity ratio of 0.02. ShockWave Medical, Inc. has a 12 month low of $113.36 and a 12 month high of $314.90.
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ShockWave Medical (NASDAQ:SWAV – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.25. The business had revenue of $120.70 million for the quarter, compared to analysts' expectations of $107.51 million. ShockWave Medical had a net margin of 15.11% and a return on equity of 21.25%. The firm's quarterly revenue was up 115.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts forecast that ShockWave Medical, Inc. will post 2.57 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have issued reports on SWAV. Oppenheimer downgraded shares of ShockWave Medical from a "market perform" rating to an "underperform" rating and set a $165.00 price objective for the company. in a research report on Tuesday, September 6th. Morgan Stanley raised their price objective on shares of ShockWave Medical from $201.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 9th. Piper Sandler raised their price objective on shares of ShockWave Medical from $278.00 to $338.00 and gave the stock an "overweight" rating in a research report on Monday, August 29th. Wells Fargo & Company raised their price objective on shares of ShockWave Medical from $176.00 to $255.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 9th. Finally, Canaccord Genuity Group raised their price objective on shares of ShockWave Medical from $232.00 to $256.00 and gave the stock a "buy" rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, ShockWave Medical presently has a consensus rating of "Moderate Buy" and an average price target of $246.50.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in ShockWave Medical by 104.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. CWM LLC grew its stake in shares of ShockWave Medical by 219.7% during the second quarter. CWM LLC now owns 195 shares of the company's stock worth $37,000 after buying an additional 134 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in shares of ShockWave Medical during the first quarter worth $40,000. PenderFund Capital Management Ltd. bought a new stake in shares of ShockWave Medical during the first quarter worth $41,000. Finally, First Horizon Advisors Inc. grew its stake in shares of ShockWave Medical by 3,666.7% during the second quarter. First Horizon Advisors Inc. now owns 226 shares of the company's stock worth $43,000 after buying an additional 220 shares during the last quarter. 95.40% of the stock is owned by institutional investors.
About ShockWave Medical
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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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