ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating)'s share price was down 6.7% on Thursday after an insider sold shares in the company. The stock traded as low as $264.56 and last traded at $265.72. Approximately 6,539 shares traded hands during trading, a decline of 99% from the average daily volume of 485,127 shares. The stock had previously closed at $284.69.
Specifically, VP Trinh Phung sold 3,500 shares of ShockWave Medical stock in a transaction on Friday, August 26th. The shares were sold at an average price of $310.76, for a total value of $1,087,660.00. Following the sale, the vice president now owns 25,063 shares of the company's stock, valued at approximately $7,788,577.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ShockWave Medical news, CFO Dan Puckett sold 1,100 shares of ShockWave Medical stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $291.33, for a total transaction of $320,463.00. Following the sale, the chief financial officer now owns 39,938 shares of the company's stock, valued at approximately $11,635,137.54. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Trinh Phung sold 3,500 shares of ShockWave Medical stock in a transaction on Friday, August 26th. The stock was sold at an average price of $310.76, for a total transaction of $1,087,660.00. Following the sale, the vice president now directly owns 25,063 shares in the company, valued at approximately $7,788,577.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,700 shares of company stock valued at $30,247,696. 3.90% of the stock is owned by company insiders.
Get ShockWave Medical alerts:Analysts Set New Price Targets
Several research firms have recently commented on SWAV. Morgan Stanley lifted their price target on ShockWave Medical from $201.00 to $255.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 9th. Wells Fargo & Company boosted their price objective on shares of ShockWave Medical from $176.00 to $255.00 and gave the company an "overweight" rating in a report on Tuesday, August 9th. Piper Sandler boosted their price objective on shares of ShockWave Medical from $278.00 to $338.00 and gave the company an "overweight" rating in a report on Monday, August 29th. Canaccord Genuity Group boosted their price objective on shares of ShockWave Medical from $232.00 to $256.00 and gave the company a "buy" rating in a report on Tuesday, August 9th. Finally, Oppenheimer lowered shares of ShockWave Medical from a "market perform" rating to an "underperform" rating and set a $165.00 price objective on the stock. in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $246.50.
ShockWave Medical Price Performance
The company has a debt-to-equity ratio of 0.02, a current ratio of 5.32 and a quick ratio of 4.41. The company has a market capitalization of $9.47 billion, a PE ratio of 183.17 and a beta of 1.06. The stock's 50 day simple moving average is $262.48 and its 200-day simple moving average is $207.86.ShockWave Medical (NASDAQ:SWAV – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.25. ShockWave Medical had a return on equity of 21.25% and a net margin of 15.11%. The business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.51 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The business's revenue for the quarter was up 115.5% on a year-over-year basis. As a group, equities analysts forecast that ShockWave Medical, Inc. will post 2.57 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ShockWave Medical
Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in shares of ShockWave Medical by 104.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company's stock worth $29,000 after buying an additional 85 shares in the last quarter. CWM LLC boosted its holdings in ShockWave Medical by 219.7% in the second quarter. CWM LLC now owns 195 shares of the company's stock valued at $37,000 after purchasing an additional 134 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in ShockWave Medical in the first quarter valued at approximately $40,000. PenderFund Capital Management Ltd. acquired a new position in ShockWave Medical in the first quarter valued at approximately $41,000. Finally, First Horizon Advisors Inc. boosted its holdings in ShockWave Medical by 3,666.7% in the second quarter. First Horizon Advisors Inc. now owns 226 shares of the company's stock valued at $43,000 after purchasing an additional 220 shares in the last quarter. 95.40% of the stock is owned by institutional investors and hedge funds.
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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