ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating)'s stock price traded down 3.7% on Friday after an insider sold shares in the company. The company traded as low as $185.59 and last traded at $187.35. 72,561 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 480,720 shares. The stock had previously closed at $194.64.
Specifically, CEO Douglas Evan Godshall sold 30,000 shares of the firm's stock in a transaction on Monday, November 14th. The stock was sold at an average price of $240.81, for a total value of $7,224,300.00. Following the completion of the sale, the chief executive officer now owns 82,926 shares of the company's stock, valued at $19,969,410.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Dan Puckett sold 1,100 shares of the firm's stock in a transaction on Monday, November 21st. The stock was sold at an average price of $246.96, for a total value of $271,656.00. Following the completion of the sale, the chief financial officer now owns 39,938 shares of the company's stock, valued at $9,863,088.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas Evan Godshall sold 30,000 shares of the firm's stock in a transaction on Monday, November 14th. The stock was sold at an average price of $240.81, for a total value of $7,224,300.00. Following the completion of the sale, the chief executive officer now directly owns 82,926 shares of the company's stock, valued at approximately $19,969,410.06. The disclosure for this sale can be found here. Insiders sold a total of 61,300 shares of company stock valued at $13,881,584 in the last three months. 3.90% of the stock is currently owned by corporate insiders.
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Analyst Ratings Changes
Several brokerages recently issued reports on SWAV. Piper Sandler cut their price objective on ShockWave Medical from $300.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on ShockWave Medical in a report on Friday, December 16th. They set a "buy" rating and a $285.00 price objective for the company. Morgan Stanley cut their target price on ShockWave Medical from $290.00 to $224.00 and set an "equal weight" rating on the stock in a report on Friday, January 6th. Wells Fargo & Company lowered ShockWave Medical from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $300.00 to $235.00 in a report on Monday, December 12th. Finally, Bank of America raised their target price on ShockWave Medical from $260.00 to $310.00 in a report on Monday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ShockWave Medical currently has a consensus rating of "Moderate Buy" and an average target price of $244.44.
ShockWave Medical Stock Down 3.5 %
The company has a debt-to-equity ratio of 0.04, a current ratio of 7.29 and a quick ratio of 6.02. The business has a 50 day moving average price of $215.90 and a 200 day moving average price of $247.60. The firm has a market capitalization of $6.79 billion, a P/E ratio of 80.61 and a beta of 1.04.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.24. ShockWave Medical had a return on equity of 30.08% and a net margin of 20.48%. The business had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.85 million. On average, analysts predict that ShockWave Medical, Inc. will post 2.94 earnings per share for the current year.
Institutional Investors Weigh In On ShockWave Medical
A number of institutional investors have recently added to or reduced their stakes in SWAV. Price T Rowe Associates Inc. MD grew its position in ShockWave Medical by 24.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,214,678 shares of the company's stock worth $614,550,000 after buying an additional 627,712 shares in the last quarter. State Street Corp grew its position in ShockWave Medical by 56.5% during the second quarter. State Street Corp now owns 1,125,735 shares of the company's stock worth $215,207,000 after buying an additional 406,327 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in ShockWave Medical by 647.0% during the third quarter. Renaissance Technologies LLC now owns 322,700 shares of the company's stock valued at $89,733,000 after purchasing an additional 279,500 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in ShockWave Medical by 2,286.1% during the second quarter. Principal Financial Group Inc. now owns 243,188 shares of the company's stock valued at $46,490,000 after purchasing an additional 232,996 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in ShockWave Medical by 26.3% during the second quarter. Macquarie Group Ltd. now owns 1,117,137 shares of the company's stock valued at $213,563,000 after purchasing an additional 232,570 shares in the last quarter. 90.56% of the stock is owned by institutional investors and hedge funds.
ShockWave Medical Company Profile
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Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm offers M5 catheters for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters or treating below-the-knee peripheral artery disease.
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