SWAV has been the topic of several other reports. Piper Sandler increased their target price on Shockwave Medical from $45.00 to $54.00 and gave the stock an overweight rating in a research report on Tuesday, June 9th. Canaccord Genuity lifted their price objective on shares of Shockwave Medical from $46.00 to $53.00 and gave the company a buy rating in a research report on Tuesday, June 9th. Zacks Investment Research raised shares of Shockwave Medical from a sell rating to a hold rating in a research note on Wednesday, July 15th. ValuEngine upgraded shares of Shockwave Medical from a hold rating to a buy rating in a research note on Monday, May 11th. Finally, Morgan Stanley boosted their price objective on Shockwave Medical from $40.00 to $42.00 and gave the stock an equal weight rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Shockwave Medical has an average rating of Buy and an average price target of $42.75.
SWAV opened at $49.32 on Thursday. The company has a current ratio of 10.53, a quick ratio of 9.68 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $45.90 and its 200 day moving average price is $41.24. Shockwave Medical has a fifty-two week low of $22.01 and a fifty-two week high of $50.75.
Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Tuesday, May 12th. The company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.10). The company had revenue of $15.20 million for the quarter, compared to the consensus estimate of $14.17 million. Shockwave Medical had a negative net margin of 112.25% and a negative return on equity of 38.18%. The firm’s revenue for the quarter was up 109.1% compared to the same quarter last year. During the same period last year, the company posted ($1.37) earnings per share. Equities analysts expect that Shockwave Medical will post -2.3 EPS for the current fiscal year.
In other news, major shareholder Sofinnova Capital Vii Fcpr sold 4,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $45.03, for a total value of $180,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Antoine Papiernik sold 7,996 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $45.02, for a total value of $359,979.92. The disclosure for this sale can be found here. Insiders sold 461,362 shares of company stock valued at $20,870,001 over the last quarter. Insiders own 15.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Shockwave Medical by 287.0% in the 1st quarter. Wells Fargo & Company MN now owns 1,143,343 shares of the company’s stock worth $37,936,000 after purchasing an additional 847,901 shares in the last quarter. Wellington Management Group LLP grew its position in Shockwave Medical by 57.0% in the first quarter. Wellington Management Group LLP now owns 2,005,121 shares of the company’s stock worth $66,530,000 after buying an additional 727,621 shares during the last quarter. Alpine Global Management LLC increased its holdings in shares of Shockwave Medical by 82.7% in the first quarter. Alpine Global Management LLC now owns 1,324,544 shares of the company’s stock valued at $43,948,000 after buying an additional 599,687 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Shockwave Medical by 25.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,413,888 shares of the company’s stock valued at $46,912,000 after acquiring an additional 282,476 shares during the last quarter. Finally, AXA bought a new stake in shares of Shockwave Medical during the 1st quarter worth $4,434,000. Institutional investors own 78.02% of the company’s stock.
About Shockwave Medical
ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat 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; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.
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