Shockwave Medical (NASDAQ:SWAV) Now Covered by Analysts at CL King

CL King started coverage on shares of Shockwave Medical (NASDAQ:SWAV) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $368.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler boosted their target price on Shockwave Medical from $275.00 to $290.00 and gave the stock an overweight rating in a report on Friday, February 16th. Morgan Stanley lowered their target price on Shockwave Medical from $284.00 to $223.00 and set an overweight rating on the stock in a report on Monday, December 4th. TheStreet upgraded shares of Shockwave Medical from a c+ rating to a b rating in a research report on Thursday, February 15th. Wells Fargo & Company raised their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an equal weight rating in a research report on Friday, February 16th. Finally, Needham & Company LLC boosted their target price on shares of Shockwave Medical from $260.00 to $286.00 and gave the stock a buy rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Shockwave Medical has a consensus rating of Moderate Buy and a consensus price target of $271.44.

Shockwave Medical Trading Up 2.1 %

Shares of SWAV stock opened at $322.61 on Wednesday. Shockwave Medical has a 1 year low of $157.00 and a 1 year high of $329.08. The stock has a fifty day moving average of $252.72 and a two-hundred day moving average of $214.63. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The firm has a market capitalization of $12.07 billion, a PE ratio of 83.36, a price-to-earnings-growth ratio of 2.43 and a beta of 0.90.

Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The firm had revenue of $202.98 million for the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter last year, the company earned $3.71 EPS. Shockwave Medical’s quarterly revenue was up 41.0% on a year-over-year basis. As a group, research analysts expect that Shockwave Medical will post 4.89 EPS for the current year.

Insider Transactions at Shockwave Medical

In related news, Director Laura Francis sold 1,500 shares of the company’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 in the company, valued at approximately $1,065,300. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Trinh Phung sold 599 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the sale, the vice president now directly owns 31,031 shares of the company’s stock, valued at $8,044,476.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $450,000.00. Following the transaction, the director now directly owns 3,551 shares in the company, valued at $1,065,300. The disclosure for this sale can be found here. Insiders have sold a total of 115,813 shares of company stock valued at $28,337,059 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Shockwave Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWAV. Lindbrook Capital LLC raised its holdings in shares of 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 acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after purchasing an additional 116 shares during the last quarter. PenderFund Capital Management Ltd. purchased a new stake in shares of Shockwave Medical during the 1st quarter worth about $41,000. Quarry LP purchased a new stake in shares of Shockwave Medical during the 4th quarter worth about $33,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Shockwave Medical during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Shockwave Medical Company Profile

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.