ShockWave Medical (NASDAQ:SWAV – Get Rating) had its price target decreased by Piper Sandler from $300.00 to $280.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 49.07% from the company's current price.
SWAV has been the subject of a number of other reports. Wells Fargo & Company lowered shares of ShockWave Medical from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $300.00 to $235.00 in a research note on Monday, December 12th. Morgan Stanley reduced their price target on shares of ShockWave Medical from $290.00 to $224.00 and set an "equal weight" rating for the company in a research note on Friday, January 6th. Bank of America lifted their price target on shares of ShockWave Medical from $260.00 to $310.00 in a research note on Monday, November 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ShockWave Medical in a research note on Friday, December 16th. They issued a "buy" rating and a $285.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.44.
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ShockWave Medical Stock Down 3.5 %
NASDAQ:SWAV opened at $187.83 on Thursday. The firm has a market cap of $6.79 billion, a P/E ratio of 80.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.02 and a current ratio of 7.29. ShockWave Medical has a fifty-two week low of $113.36 and a fifty-two week high of $320.54. The firm has a 50-day simple moving average of $215.90 and a two-hundred day simple moving average of $247.60.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings data on Monday, November 7th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.24. The business had revenue of $131.33 million during the quarter, compared to analyst estimates of $125.85 million. ShockWave Medical had a net
margin of 20.48% and a return on equity of 30.08%. Analysts predict that ShockWave Medical will post 2.94 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Isaac Zacharias sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $261.82, for a total value of $1,047,280.00. Following the transaction, the insider now owns 73,021 shares of the company's stock, valued at $19,118,358.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ShockWave Medical news, Director Frank T. Watkins sold 3,000 shares of ShockWave Medical stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $244.44, for a total transaction of $733,320.00. Following the transaction, the director now owns 3,796 shares of the company's stock, valued at $927,894.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $261.82, for a total transaction of $1,047,280.00. Following the transaction, the insider now directly owns 73,021 shares in the company, valued at approximately $19,118,358.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,300 shares of company stock valued at $13,881,584. 3.90% of the stock is owned by insiders.
Hedge Funds Weigh In On ShockWave Medical
Several large investors have recently added to or reduced their stakes in SWAV. Fifth Third Bancorp raised its position in shares of ShockWave Medical by 1.8% during the third quarter. Fifth Third Bancorp now owns 2,121 shares of the company's stock valued at $590,000 after buying an additional 37 shares during the last quarter. Profund Advisors LLC raised its position in shares of ShockWave Medical by 1.9% during the third quarter. Profund Advisors LLC now owns 2,386 shares of the company's stock valued at $663,000 after buying an additional 45 shares during the last quarter. Signaturefd LLC raised its position in shares of ShockWave Medical by 14.2% during the third quarter. Signaturefd LLC now owns 362 shares of the company's stock valued at $101,000 after buying an additional 45 shares during the last quarter. Fulton Bank N.A. raised its position in shares of ShockWave Medical by 5.7% during the fourth quarter. Fulton Bank N.A. now owns 1,020 shares of the company's stock valued at $209,000 after buying an additional 55 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of ShockWave Medical by 6.6% during the second quarter. Parallel Advisors LLC now owns 938 shares of the company's stock valued at $179,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 90.56% of the company's stock.
About ShockWave Medical
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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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