Shockwave Medical, Inc. (NASDAQ:SWAV) Given Consensus Rating of “Hold” by Brokerages

Shockwave Medical, Inc. (NASDAQ:SWAV) has earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $309.11.

A number of equities analysts have weighed in on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. CL King restated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Needham & Company LLC restated a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, Canaccord Genuity Group restated 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.

Shockwave Medical Stock Performance

SWAV opened at $330.00 on Friday. The firm has a market cap of $12.34 billion, a P/E ratio of 85.27, a PEG ratio of 2.44 and a beta of 0.92. Shockwave Medical has a 1-year low of $157.00 and a 1-year high of $331.58. The company has a 50 day simple moving average of $294.88 and a two-hundred day simple moving average of $233.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73.

Shockwave Medical (NASDAQ:SWAV) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. The business had revenue of $202.98 million during 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%. The company’s revenue was up 41.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.71 earnings per share. Equities analysts forecast that Shockwave Medical will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the sale, the vice president now directly owns 32,933 shares in the company, valued at approximately $7,646,383.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the sale, the vice president now directly owns 32,933 shares in the company, valued at approximately $7,646,383.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the sale, the director now owns 287,521 shares in the company, valued at $74,005,030.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,813 shares of company stock valued at $22,863,919. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Shockwave Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. YHB Investment Advisors Inc. purchased a new stake in shares of Shockwave Medical in the first quarter valued at about $28,000. Riverview Trust Co purchased a new stake in Shockwave Medical in the first quarter valued at approximately $30,000. Rise Advisors LLC purchased a new stake in Shockwave Medical during the first quarter worth approximately $32,000. GAMMA Investing LLC grew its stake in Shockwave Medical by 92.9% during the first quarter. GAMMA Investing LLC now owns 135 shares of the company’s stock worth $44,000 after buying an additional 65 shares during the period. Finally, Lindbrook Capital LLC grew its stake in Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. 95.35% of the stock is currently owned by institutional investors and hedge funds.

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.