ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) Director Frank T. Watkins sold 3,000 shares of ShockWave Medical stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $193.19, for a total transaction of $579,570.00. Following the completion of the sale, the director now owns 3,796 shares of the company's stock, valued at $733,349.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ShockWave Medical Price Performance

Shares of NASDAQ SWAV traded up $4.11 during midday trading on Wednesday, reaching $191.91. 489,071 shares of the company were exchanged, compared to its average volume of 523,700. The stock's 50-day moving average price is $195.99 and its 200-day moving average price is $245.21. The stock has a market cap of $6.94 billion, a P/E ratio of 33.67 and a beta of 0.97. ShockWave Medical, Inc. has a one year low of $113.36 and a one year high of $320.54. The company has a quick ratio of 6.06, a current ratio of 7.25 and a debt-to-equity ratio of 0.05.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported $3.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $2.72. The firm had revenue of $144.00 million for the quarter, compared to analysts' expectations of $143.04 million. ShockWave Medical had a net margin of 44.10% and a return on equity of 59.99%. The company's revenue was up 71.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that ShockWave Medical, Inc. will post 3.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

SWAV has been the subject of a number of analyst reports. Piper Sandler dropped their price target on shares of ShockWave Medical from $300.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ShockWave Medical in a research report on Friday, December 16th. They issued a "buy" rating and a $285.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of ShockWave Medical from $200.00 to $207.00 and gave the company an "equal weight" rating in a research note on Friday, February 17th. Morgan Stanley decreased their price objective on shares of ShockWave Medical from $290.00 to $224.00 and set an "equal weight" rating on the stock in a research note on Friday, January 6th. Finally, Canaccord Genuity Group lifted their price objective on shares of ShockWave Medical from $247.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, February 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $248.22.

Institutional Trading of ShockWave Medical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ShockWave Medical by 43.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 331 shares of the company's stock worth $68,000 after purchasing an additional 101 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of ShockWave Medical during the fourth quarter worth $339,000. Alliancebernstein L.P. lifted its holdings in shares of ShockWave Medical by 31.3% during the fourth quarter. Alliancebernstein L.P. now owns 105,486 shares of the company's stock worth $21,689,000 after purchasing an additional 25,174 shares during the period. Point72 Middle East FZE acquired a new position in shares of ShockWave Medical during the fourth quarter worth $535,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of ShockWave Medical by 1,600.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 850 shares of the company's stock worth $175,000 after purchasing an additional 800 shares during the period. Institutional investors own 90.56% of the company's stock.

About ShockWave Medical

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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.

Further Reading

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