ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating)'s share price fell 4.5% on Wednesday . The company traded as low as $188.38 and last traded at $189.40. 169,059 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 506,107 shares. The stock had previously closed at $198.34.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on SWAV. Deutsche Bank Aktiengesellschaft assumed coverage on ShockWave Medical in a research note on Friday, December 16th. They set a "buy" rating and a $285.00 target price on the stock. Canaccord Genuity Group lifted their target price on ShockWave Medical from $247.00 to $252.00 and gave the stock a "buy" rating in a research report on Friday, February 17th. Piper Sandler cut their price target on shares of ShockWave Medical from $300.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, January 26th. Morgan Stanley decreased their price objective on shares of ShockWave Medical from $290.00 to $224.00 and set an "equal weight" rating for the company in a report on Friday, January 6th. Finally, Wells Fargo & Company upped their target price on shares of ShockWave Medical from $200.00 to $207.00 and gave the stock an "equal weight" rating in a research note on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $248.22.
Get ShockWave Medical alerts:ShockWave Medical Stock Down 2.9 %
The business has a 50 day moving average of $192.26 and a two-hundred day moving average of $239.36. The stock has a market capitalization of $7.03 billion, a PE ratio of 34.80 and a beta of 0.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.06 and a current ratio of 7.25.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $3.71 EPS for the quarter, beating the consensus estimate of $0.99 by $2.72. The business had revenue of $144.00 million during the quarter, compared to analyst estimates of $143.04 million. ShockWave Medical had a net margin of 44.10% and a return on equity of 59.99%. The company's quarterly revenue was up 71.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. Analysts predict that ShockWave Medical, Inc. will post 3.91 EPS for the current year.
Insiders Place Their Bets
In other news, insider Isaac Zacharias sold 4,000 shares of the firm's stock in a transaction on Monday, February 27th. The stock was sold at an average price of $188.51, for a total value of $754,040.00. Following the completion of the sale, the insider now owns 64,619 shares of the company's stock, valued at approximately $12,181,327.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $188.51, for a total value of $754,040.00. Following the completion of the transaction, the insider now directly owns 64,619 shares of the company's stock, valued at approximately $12,181,327.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Puckett sold 1,100 shares of ShockWave Medical stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $212.93, for a total transaction of $234,223.00. Following the completion of the sale, the chief financial officer now owns 39,938 shares of the company's stock, valued at $8,503,998.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,678 shares of company stock valued at $12,616,643. 3.90% of the stock is currently owned by insiders.
Hedge Funds Weigh In On ShockWave Medical
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWAV. Raymond James & Associates raised its stake in shares of ShockWave Medical by 1.8% in the first quarter. Raymond James & Associates now owns 4,644 shares of the company's stock worth $963,000 after purchasing an additional 81 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in ShockWave Medical by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company's stock valued at $31,361,000 after acquiring an additional 3,771 shares during the period. Rhumbline Advisers boosted its holdings in shares of ShockWave Medical by 1.5% in the 1st quarter. Rhumbline Advisers now owns 35,441 shares of the company's stock valued at $7,349,000 after acquiring an additional 526 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of ShockWave Medical during the first quarter worth $407,000. Finally, Canada Pension Plan Investment Board lifted its position in ShockWave Medical by 36.3% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock valued at $166,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 90.56% of the company's stock.
ShockWave Medical Company Profile
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Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm 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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