ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating)’s stock price was down 3.7% on Friday after Piper Sandler lowered their price target on the stock from $300.00 to $280.00. Piper Sandler currently has an overweight rating on the stock. ShockWave Medical traded as low as $185.59 and last traded at $187.35. Approximately 72,561 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 480,720 shares. The stock had previously closed at $194.64.
Other analysts also recently issued reports about the stock. Bank of America increased their price target on shares of ShockWave Medical from $260.00 to $310.00 in a report on Monday, November 7th. Wells Fargo & Company downgraded shares of ShockWave Medical from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $300.00 to $235.00 in a report on Monday, December 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of ShockWave Medical in a report on Friday, December 16th. They set a “buy” rating and a $285.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of ShockWave Medical from $290.00 to $224.00 and set an “equal weight” rating on the stock in a report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.44.
Insider Activity
In other news, CEO Douglas Evan Godshall sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $240.81, for a total transaction of $7,224,300.00. Following the transaction, the chief executive officer now directly owns 82,926 shares in the company, valued at approximately $19,969,410.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Frank T. Watkins sold 3,000 shares of ShockWave Medical stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $176.29, for a total transaction of $528,870.00. Following the sale, the director now owns 3,796 shares of the company’s stock, valued at approximately $669,196.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas Evan Godshall sold 30,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $240.81, for a total value of $7,224,300.00. Following the completion of the transaction, the chief executive officer now owns 82,926 shares of the company’s stock, valued at $19,969,410.06. The disclosure for this sale can be found here. Insiders sold 57,300 shares of company stock worth $13,110,504 over the last three months. Insiders own 3.90% of the company’s stock.
Hedge Funds Weigh In On ShockWave Medical
Hedge funds have recently modified their holdings of the business. Raymond James & Associates increased its position in shares of ShockWave Medical by 1.8% during the first quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock valued at $963,000 after acquiring an additional 81 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of ShockWave Medical by 2.6% during the first 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 last quarter. Rhumbline Advisers increased its position in shares of ShockWave Medical by 1.5% during the first 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. acquired a new stake in shares of ShockWave Medical during the first quarter valued at about $407,000. Finally, Canada Pension Plan Investment Board increased its position in shares of 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 acquiring an additional 213 shares during the last quarter. 90.56% of the stock is currently owned by hedge funds and other institutional investors.
ShockWave Medical Trading Down 3.7 %
The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 83.54 and a beta of 1.04. The business’s 50-day simple moving average is $217.14 and its two-hundred day simple moving average is $247.70. The company has a quick ratio of 6.02, a current ratio of 7.29 and a debt-to-equity ratio of 0.04.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.24. The business had revenue of $131.33 million during the quarter, compared to analysts’ expectations of $125.85 million. ShockWave Medical had a net margin of 20.48% and a return on equity of 30.08%. Equities analysts forecast that ShockWave Medical, Inc. will post 2.94 earnings per share for the current year.
About ShockWave Medical
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.
