Shockwave Medical (NASDAQ:SWAV) Trading 5.3% Higher

Shares of Shockwave Medical Inc (NASDAQ:SWAV) traded up 5.3% on Tuesday . The stock traded as high as $43.35 and last traded at $43.21, 201,087 shares were traded during trading. A decline of 50% from the average session volume of 401,796 shares. The stock had previously closed at $41.04.

Several research analysts have weighed in on the company. Zacks Investment Research cut Shockwave Medical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. Canaccord Genuity increased their price objective on Shockwave Medical from $50.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, June 18th. Finally, Bank of America reiterated a “neutral” rating and set a $44.00 price objective on shares of Shockwave Medical in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Shockwave Medical currently has a consensus rating of “Hold” and a consensus target price of $43.50.

The company has a debt-to-equity ratio of 0.10, a current ratio of 9.13 and a quick ratio of 8.59. The business has a 50-day simple moving average of $49.80.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.17. The company had revenue of $10.00 million during the quarter, compared to the consensus estimate of $8.29 million. The business’s quarterly revenue was up 334.8% compared to the same quarter last year. As a group, equities analysts expect that Shockwave Medical Inc will post -2.51 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SWAV. NumerixS Investment Technologies Inc acquired a new position in shares of Shockwave Medical in the second quarter worth approximately $166,000. BlackRock Inc. acquired a new position in shares of Shockwave Medical in the second quarter worth approximately $18,115,000. Parametric Portfolio Associates LLC acquired a new position in shares of Shockwave Medical in the second quarter worth approximately $846,000. Northern Trust Corp acquired a new position in shares of Shockwave Medical in the second quarter worth approximately $1,657,000. Finally, Matisse Capital acquired a new position in shares of Shockwave Medical in the second quarter worth approximately $249,000. Institutional investors own 45.76% of the company’s stock.

About Shockwave Medical (NASDAQ:SWAV)

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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