Shockwave Medical (NASDAQ:SWAV) Price Target Raised to $65.00

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Shockwave Medical (NASDAQ:SWAV) had its price objective lifted by investment analysts at Canaccord Genuity from $50.00 to $65.00 in a research report issued on Tuesday, The Fly reports. The brokerage currently has a “positive” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 9.91% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Bank of America reiterated a “neutral” rating and issued a $44.00 target price on shares of Shockwave Medical in a research report on Thursday, June 13th. Zacks Investment Research lowered shares of Shockwave Medical from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Wells Fargo & Co began coverage on shares of Shockwave Medical in a research report on Monday, April 1st. They issued a “market perform” rating and a $33.00 target price for the company. Finally, Morgan Stanley began coverage on shares of Shockwave Medical in a research report on Monday, April 1st. They issued an “equal weight” rating and a $32.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $43.50.

Shockwave Medical stock opened at $59.14 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 9.89 and a current ratio of 10.37. Shockwave Medical has a one year low of $24.58 and a one year high of $68.39.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.37) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.85). The firm had revenue of $7.27 million for the quarter. As a group, analysts expect that Shockwave Medical will post -2.74 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in Shockwave Medical in the 1st quarter valued at about $26,000. Capital Investment Advisory Services LLC bought a new position in Shockwave Medical in the 1st quarter valued at about $105,000. Pier Capital LLC bought a new position in Shockwave Medical in the 1st quarter valued at about $335,000. Stephens Inc. AR bought a new position in Shockwave Medical in the 1st quarter valued at about $382,000. Finally, Dean Capital Investments Management LLC bought a new position in Shockwave Medical in the 1st quarter valued at about $658,000. Hedge funds and other institutional investors own 45.60% of the company’s stock.

Shockwave Medical Company Profile

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.

Read More: Equal Weight Rating

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