Shockwave Medical (NASDAQ:SWAV) Shares Gap Up to $38.07

Shockwave Medical Inc (NASDAQ:SWAV) shares gapped up before the market opened on Monday . The stock had previously closed at $37.39, but opened at $38.07. Shockwave Medical shares last traded at $37.01, with a volume of 17,843 shares trading hands.

Several brokerages have commented on SWAV. Canaccord Genuity lowered their price objective on shares of Shockwave Medical from $65.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, November 8th. ValuEngine downgraded shares of Shockwave Medical from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Shockwave Medical from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Piper Jaffray Companies boosted their target price on shares of Shockwave Medical from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Oppenheimer initiated coverage on shares of Shockwave Medical in a research note on Tuesday, October 22nd. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Shockwave Medical presently has a consensus rating of “Hold” and a consensus target price of $40.80.

The business’s 50 day simple moving average is $32.57 and its two-hundred day simple moving average is $44.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 8.59 and a current ratio of 6.76.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Thursday, November 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.05. The company had revenue of $11.33 million for the quarter, compared to the consensus estimate of $10.42 million. The firm’s revenue was up 214.7% compared to the same quarter last year. On average, sell-side analysts expect that Shockwave Medical Inc will post -2.22 EPS for the current year.

In related news, Director Antoine Papiernik sold 650,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $34.35, for a total value of $22,327,500.00. Also, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $35.66, for a total transaction of $142,640.00. Following the completion of the sale, the insider now directly owns 9,000 shares in the company, valued at approximately $320,940. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 748,000 shares of company stock worth $25,647,960.

Several institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake in shares of Shockwave Medical by 244.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,875 shares of the company’s stock worth $56,000 after purchasing an additional 1,330 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Shockwave Medical in the third quarter worth $412,000. WCM Investment Management LLC bought a new stake in shares of Shockwave Medical in the third quarter worth $575,000. Segantii Capital Management Ltd bought a new stake in shares of Shockwave Medical in the third quarter worth $1,347,000. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Shockwave Medical by 9.9% in the third quarter. Capital Investment Advisory Services LLC now owns 4,810 shares of the company’s stock worth $144,000 after purchasing an additional 435 shares during the last quarter. 49.81% of the stock is currently owned by 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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