Shockwave Medical Inc (NASDAQ:SWAV) Given $45.67 Average Target Price by Brokerages

Shockwave Medical Inc (NASDAQ:SWAV) has received an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.

Brokerages have set a 1-year consensus target price of $45.67 for the company and are expecting that the company will post ($0.55) earnings per share for the current quarter, according to Zacks. Zacks has also given Shockwave Medical an industry rank of 78 out of 256 based on the ratings given to its competitors.

Several research firms recently issued reports on SWAV. Zacks Investment Research lowered Shockwave Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Bank of America reaffirmed a “neutral” rating and issued a $44.00 price target on shares of Shockwave Medical in a research report on Thursday, June 13th. Finally, Canaccord Genuity increased their price target on Shockwave Medical from $50.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, June 18th.

NASDAQ:SWAV traded down $0.31 during trading hours on Wednesday, reaching $48.92. The company had a trading volume of 306,500 shares, compared to its average volume of 407,648. Shockwave Medical has a 1-year low of $24.58 and a 1-year high of $68.39. The stock has a 50 day moving average price of $53.55. The company has a current ratio of 10.37, a quick ratio of 9.89 and a debt-to-equity ratio of 0.11.

Shockwave Medical (NASDAQ:SWAV) last announced its earnings results on Wednesday, May 8th. The company reported ($1.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.85). The firm had revenue of $7.27 million during the quarter. Equities research analysts predict that Shockwave Medical will post -2.74 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in Shockwave Medical during the first quarter valued at approximately $105,000. Pier Capital LLC bought a new position in Shockwave Medical during the 1st quarter valued at $335,000. Stephens Inc. AR bought a new position in Shockwave Medical during the 1st quarter valued at $382,000. Dean Capital Investments Management LLC bought a new position in Shockwave Medical during the 1st quarter valued at $658,000. Finally, JPMorgan Chase & Co. bought a new position in Shockwave Medical during the 1st quarter valued at $11,072,000. 45.60% of the stock is owned by institutional investors.

About Shockwave Medical

ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company 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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