Shockwave Medical Inc (NASDAQ:SWAV)’s share price rose 7.1% during trading on Monday . The stock traded as high as $32.90 and last traded at $32.85, approximately 497,535 shares traded hands during trading. An increase of 14% from the average daily volume of 436,938 shares. The stock had previously closed at $30.67.
SWAV has been the subject of several analyst reports. Canaccord Genuity upped their price target on Shockwave Medical from $50.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, June 18th. Bank of America restated a “neutral” rating and set a $44.00 price target on shares of Shockwave Medical in a research note on Thursday, June 13th. Finally, Zacks Investment Research cut Shockwave Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Shockwave Medical has a consensus rating of “Hold” and an average target price of $43.50.
The company has a debt-to-equity ratio of 0.10, a current ratio of 9.13 and a quick ratio of 8.59. The firm has a 50 day moving average of $40.82.
In related news, Director Antoine Papiernik sold 650,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $34.35, for a total transaction of $22,327,500.00. Also, CFO Dan Puckett sold 75,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $34.71, for a total value of $2,603,250.00.
A number of hedge funds have recently made changes to their positions in SWAV. Advisory Services Network LLC acquired a new position in Shockwave Medical during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in Shockwave Medical during the second quarter worth $43,000. Advisor Group Inc. acquired a new position in Shockwave Medical during the second quarter worth $56,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Shockwave Medical by 1,350.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,450 shares of the company’s stock worth $83,000 after acquiring an additional 1,350 shares during the period. Finally, Strs Ohio acquired a new position in Shockwave Medical during the second quarter worth $102,000. 47.96% of the stock is currently owned by hedge funds and other institutional investors.
Shockwave Medical Company Profile (NASDAQ:SWAV)
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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