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

Shares of Shockwave Medical, Inc. (NASDAQ:SWAV) have been assigned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Ten 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 target among brokerages that have issued a report on the stock in the last year is $309.11.

SWAV has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Canaccord Genuity Group reiterated a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $335.00 price target (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th.

Shockwave Medical Stock Up 0.1 %

SWAV stock opened at $330.38 on Friday. Shockwave Medical has a 1-year low of $157.00 and a 1-year high of $331.58. The firm has a market capitalization of $12.39 billion, a PE ratio of 85.37, a PEG ratio of 2.45 and a beta of 0.88. The business’s 50 day simple moving average is $301.64 and its 200 day simple moving average is $237.81. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. The business had revenue of $202.98 million for the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. Shockwave Medical’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period last year, the firm earned $3.71 earnings per share. As a group, research analysts anticipate that Shockwave Medical will post 4.94 EPS for the current year.

Insider Activity at Shockwave Medical

In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the transaction, the insider now owns 56,818 shares in the company, valued at $16,344,834.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the completion of the transaction, the insider now directly owns 56,818 shares in the company, valued at approximately $16,344,834.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the sale, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The disclosure for this sale can be found here. Insiders sold 86,407 shares of company stock valued at $22,081,356 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Shockwave Medical

A number of institutional investors and hedge funds have recently bought and sold shares of SWAV. YHB Investment Advisors Inc. purchased a new position in shares of Shockwave Medical in the 1st quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of Shockwave Medical during the 1st quarter worth $30,000. Rise Advisors LLC acquired a new stake in shares of Shockwave Medical in the 1st quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in Shockwave Medical by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 135 shares of the company’s stock valued at $44,000 after acquiring an additional 65 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Shockwave Medical in the first quarter worth $45,000. 95.35% 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 (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.