Shockwave Medical (NASDAQ:SWAV) Rating Increased to Hold at BidaskClub

Shockwave Medical (NASDAQ:SWAV) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Thursday, BidAskClub reports.

A number of other equities research analysts have also commented on the stock. Piper Jaffray Companies increased their price objective on shares of Shockwave Medical from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley increased their price objective on shares of Shockwave Medical from $35.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Zacks Investment Research raised shares of Shockwave Medical from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Thursday, March 19th. Piper Sandler increased their price objective on shares of Shockwave Medical from to in a report on Friday, February 14th. Finally, Bank of America raised shares of Shockwave Medical from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $50.00 in a report on Friday, February 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Shockwave Medical presently has a consensus rating of “Buy” and a consensus target price of $46.14.

NASDAQ:SWAV traded up $2.82 during mid-day trading on Thursday, reaching $33.89. 4,717 shares of the company were exchanged, compared to its average volume of 619,855. Shockwave Medical has a 12 month low of $22.01 and a 12 month high of $68.39. The company has a fifty day moving average of $37.91 and a 200 day moving average of $37.96. The company has a quick ratio of 8.52, a current ratio of 9.03 and a debt-to-equity ratio of 0.08. The stock has a market cap of $987.09 million and a PE ratio of -12.55.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.02. Shockwave Medical had a negative net margin of 119.06% and a negative return on equity of 37.20%. The firm had revenue of $14.31 million for the quarter, compared to analyst estimates of $13.34 million. On average, equities research analysts anticipate that Shockwave Medical will post -1.84 EPS for the current fiscal year.

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.96, for a total transaction of $179,840.00. Following the transaction, the insider now directly owns 9,000 shares in the company, valued at approximately $404,640. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas Evan Godshall sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $43.23, for a total transaction of $1,296,900.00. Following the transaction, the chief executive officer now owns 46,000 shares in the company, valued at $1,988,580. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 592,000 shares of company stock worth $25,973,256.

Institutional investors have recently added to or reduced their stakes in the business. Pacitti Group Inc. acquired a new position in Shockwave Medical during the 4th quarter valued at about $39,000. Millennium Management LLC acquired a new position in Shockwave Medical during the 3rd quarter valued at about $4,275,000. State Street Corp lifted its position in Shockwave Medical by 9.3% during the 3rd quarter. State Street Corp now owns 115,816 shares of the company’s stock valued at $3,466,000 after purchasing an additional 9,873 shares during the period. Jennison Associates LLC lifted its position in Shockwave Medical by 91.3% during the 4th quarter. Jennison Associates LLC now owns 580,334 shares of the company’s stock valued at $25,488,000 after purchasing an additional 276,907 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Shockwave Medical by 336.8% in the 4th quarter. Bank of Montreal Can now owns 3,206 shares of the company’s stock valued at $141,000 after acquiring an additional 2,472 shares during the period. Institutional investors own 77.06% 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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Analyst Recommendations for Shockwave Medical (NASDAQ:SWAV)

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