Douglas Evan Godshall Sells 45,000 Shares of ShockWave Medical, Inc. (NASDAQ:SWAV) Stock

ShockWave Medical, Inc. (NASDAQ:SWAV) CEO Douglas Evan Godshall sold 45,000 shares of the business’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $121.96, for a total transaction of $5,488,200.00. Following the transaction, the chief executive officer now owns 193,359 shares in the company, valued at approximately $23,582,063.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of SWAV stock opened at $130.36 on Tuesday. The stock’s fifty day simple moving average is $126.16 and its 200 day simple moving average is $90.17. ShockWave Medical, Inc. has a one year low of $22.01 and a one year high of $143.79. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -64.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 12.21 and a quick ratio of 10.84.

ShockWave Medical (NASDAQ:SWAV) last issued its quarterly earnings data on Wednesday, February 17th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.05). ShockWave Medical had a negative net margin of 108.73% and a negative return on equity of 30.28%. On average, research analysts anticipate that ShockWave Medical, Inc. will post -1.94 earnings per share for the current year.

SWAV has been the topic of a number of recent research reports. Zacks Investment Research downgraded ShockWave Medical from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. Piper Sandler lifted their price objective on ShockWave Medical from $132.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, February 18th. They noted that the move was a valuation call. Morgan Stanley upped their target price on ShockWave Medical from $89.00 to $103.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 15th. Bank of America downgraded shares of ShockWave Medical from a “buy” rating to a “neutral” rating and set a $105.00 price target on the stock. in a research note on Tuesday, December 1st. Finally, Wells Fargo & Company increased their price objective on shares of ShockWave Medical from $95.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, January 12th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $109.00.

A number of institutional investors have recently modified their holdings of SWAV. Nisa Investment Advisors LLC acquired a new position in shares of ShockWave Medical in the 3rd quarter worth approximately $64,000. State of New Jersey Common Pension Fund D acquired a new position in ShockWave Medical in the third quarter worth $2,821,000. Amalgamated Bank grew its holdings in shares of ShockWave Medical by 3.8% during the third quarter. Amalgamated Bank now owns 4,423 shares of the company’s stock worth $335,000 after purchasing an additional 160 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of ShockWave Medical during the third quarter worth $266,000. Finally, Financial Advocates Investment Management increased its stake in shares of ShockWave Medical by 2.1% in the third quarter. Financial Advocates Investment Management now owns 8,370 shares of the company’s stock valued at $634,000 after buying an additional 175 shares in the last quarter. 88.84% of the stock is currently owned by hedge funds and other institutional investors.

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. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee peripheral artery disease.

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