Brokerages Set Shockwave Medical, Inc. (NASDAQ:SWAV) Price Target at $309.11

Shockwave Medical, Inc. (NASDAQ:SWAV) has been assigned a consensus rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $309.11.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group restated a “hold” rating and issued a $335.00 price target (up from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th.

Insider Transactions at Shockwave Medical

In other news, Director Frank T. Watkins sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $231.76, for a total transaction of $463,520.00. Following the completion of the transaction, the director now directly owns 4,532 shares in the company, valued at $1,050,336.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frank T. Watkins sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $231.76, for a total value of $463,520.00. Following the completion of the sale, the director now directly owns 4,532 shares in the company, valued at $1,050,336.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $231.56, for a total value of $2,315,600.00. Following the sale, the chief executive officer now owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,407 shares of company stock worth $22,081,356. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Shockwave Medical

A number of institutional investors and hedge funds have recently made changes to their positions in SWAV. SG Americas Securities LLC lifted its position in Shockwave Medical by 751.7% in the 3rd quarter. SG Americas Securities LLC now owns 9,505 shares of the company’s stock valued at $1,892,000 after acquiring an additional 8,389 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Shockwave Medical by 11.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock worth $96,000 after buying an additional 50 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Shockwave Medical during the 3rd quarter worth approximately $789,000. Linden Thomas Advisory Services LLC bought a new position in shares of Shockwave Medical during the 3rd quarter worth approximately $366,000. Finally, Ascent Wealth Partners LLC lifted its position in shares of Shockwave Medical by 79.3% during the 3rd quarter. Ascent Wealth Partners LLC now owns 9,961 shares of the company’s stock worth $1,983,000 after buying an additional 4,406 shares in the last quarter. Institutional investors own 95.35% of the company’s stock.

Shockwave Medical Price Performance

Shockwave Medical stock opened at $329.84 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The company has a market capitalization of $12.37 billion, a PE ratio of 85.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.92. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The business has a 50 day simple moving average of $299.06 and a 200 day simple moving average of $236.28.

Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.92 by $0.24. The company had revenue of $202.98 million during the quarter, compared to analysts’ expectations of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The business’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period last year, the firm earned $3.71 EPS. On average, sell-side analysts forecast that Shockwave Medical will post 4.94 EPS for the current fiscal year.

Shockwave Medical Company Profile

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.