ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating)'s share price traded down 6.7% during trading on Thursday after an insider sold shares in the company. The company traded as low as $264.56 and last traded at $265.72. 6,539 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 485,127 shares. The stock had previously closed at $284.69.

Specifically, Director Frank T. Watkins sold 3,000 shares of ShockWave Medical stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $290.09, for a total value of $870,270.00. Following the completion of the sale, the director now directly owns 9,796 shares in the company, valued at approximately $2,841,721.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ShockWave Medical news, VP Trinh Phung sold 3,500 shares of ShockWave Medical stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $310.76, for a total transaction of $1,087,660.00. Following the completion of the sale, the vice president now directly owns 25,063 shares in the company, valued at approximately $7,788,577.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank T. Watkins sold 3,000 shares of ShockWave Medical stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $290.09, for a total transaction of $870,270.00. Following the sale, the director now owns 9,796 shares of the company's stock, valued at $2,841,721.64. The disclosure for this sale can be found here. Insiders sold 108,700 shares of company stock worth $30,247,696 in the last three months. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of ShockWave Medical from $176.00 to $255.00 and gave the company an "overweight" rating in a research note on Tuesday, August 9th. Piper Sandler lifted their price objective on shares of ShockWave Medical from $278.00 to $338.00 and gave the company an "overweight" rating in a research note on Monday, August 29th. Oppenheimer cut 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 note on Tuesday, September 6th. Morgan Stanley boosted their target price on shares of ShockWave Medical from $201.00 to $255.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 9th. Finally, Canaccord Genuity Group increased their price target on shares of ShockWave Medical from $232.00 to $256.00 and gave the stock a "buy" rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $246.50.

ShockWave Medical Stock Performance

ShockWave Medical (NASDAQ:SWAV – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.43 by $0.25. ShockWave Medical had a return on equity of 21.25% and a net margin of 15.11%. The company had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.51 million. During the same period last year, the company earned ($0.01) earnings per share. ShockWave Medical's quarterly revenue was up 115.5% compared to the same quarter last year. On average, analysts anticipate that ShockWave Medical, Inc. will post 2.57 earnings per share for the current fiscal year.

Institutional Trading of ShockWave Medical

A number of institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in shares of ShockWave Medical by 65.4% in the second quarter. Federated Hermes Inc. now owns 6,376 shares of the company's stock worth $1,219,000 after acquiring an additional 2,520 shares during the last quarter. O Neil Global Advisors Inc. boosted its stake in shares of ShockWave Medical by 160.8% in the second quarter. O Neil Global Advisors Inc. now owns 10,172 shares of the company's stock worth $1,945,000 after acquiring an additional 6,272 shares during the last quarter. Amundi boosted its stake in shares of ShockWave Medical by 37.9% in the second quarter. Amundi now owns 68,106 shares of the company's stock worth $13,589,000 after acquiring an additional 18,713 shares during the last quarter. M&G Investment Management Ltd. boosted its stake in shares of ShockWave Medical by 5.6% in the second quarter. M&G Investment Management Ltd. now owns 9,098 shares of the company's stock worth $1,738,000 after acquiring an additional 479 shares during the last quarter. Finally, Summit Global Investments boosted its stake in shares of ShockWave Medical by 1.8% in the second quarter. Summit Global Investments now owns 4,890 shares of the company's stock worth $935,000 after acquiring an additional 87 shares during the last quarter. 95.40% of the stock is owned by institutional investors and hedge funds.

ShockWave Medical Company Profile

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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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