Shockwave Medical, Inc. (NASDAQ:SWAV) Receives $309.11 Average Price Target from Analysts

Shares of Shockwave Medical, Inc. (NASDAQ:SWAVGet Free Report) have received a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $309.11.

Several brokerages have weighed in on SWAV. Canaccord Genuity Group reissued a “hold” rating and set a $335.00 price objective (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Piper Sandler increased their price objective on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd.

View Our Latest Stock Analysis on SWAV

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the completion of the sale, the director now owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the sale, the insider now owns 56,818 shares in the company, valued at approximately $16,344,834.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the sale, the director now owns 3,551 shares in the company, valued at $1,065,300. The disclosure for this sale can be found here. Insiders sold a total of 7,521 shares of company stock valued at $2,113,296 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Shockwave Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWAV. Vanguard Group Inc. grew its stake in Shockwave Medical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock worth $692,442,000 after acquiring an additional 33,539 shares in the last quarter. FMR LLC grew its stake in Shockwave Medical by 3.8% in the 3rd quarter. FMR LLC now owns 2,527,893 shares of the company’s stock worth $503,303,000 after acquiring an additional 92,919 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Shockwave Medical by 36.8% during the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock valued at $470,763,000 after purchasing an additional 664,648 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Shockwave Medical by 7.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock valued at $284,981,000 after purchasing an additional 97,356 shares in the last quarter. Finally, Eventide Asset Management LLC boosted its stake in shares of Shockwave Medical by 42.3% during the fourth quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock valued at $96,465,000 after purchasing an additional 150,503 shares in the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Shockwave Medical Stock Performance

Shares of Shockwave Medical stock opened at $334.15 on Wednesday. The company has a market cap of $12.54 billion, a PE ratio of 78.07, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. Shockwave Medical has a 52 week low of $157.00 and a 52 week high of $334.28. The business has a 50 day moving average price of $322.64 and a 200-day moving average price of $251.08. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97.

Shockwave Medical (NASDAQ:SWAVGet Free Report) last released its earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.45. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. Shockwave Medical’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Equities analysts anticipate that Shockwave Medical will post 5.05 earnings per share for the current fiscal year.

Shockwave Medical Company Profile

(Get Free Report

Shockwave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters used in IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter used for IVL System in large diameter vessels.

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Analyst Recommendations for Shockwave Medical (NASDAQ:SWAV)

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