Shockwave Medical (NASDAQ:SWAV) had its price objective hoisted by analysts at Piper Sandler from to in a report released on Friday, The Fly reports. Piper Sandler also issued estimates for Shockwave Medical’s FY2022 earnings at $0.08 EPS.
A number of other brokerages have also issued reports on SWAV. Zacks Investment Research lowered Shockwave Medical from a “hold” rating to a “sell” rating in a research report on Tuesday. Canaccord Genuity reduced their price objective on Shockwave Medical from $65.00 to $49.00 and set a “buy” rating for the company in a research note on Friday, November 8th. ValuEngine downgraded Shockwave Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Wells Fargo & Co raised Shockwave Medical from a “market perform” rating to an “overweight” rating and set a $49.00 price objective for the company in a research note on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on Shockwave Medical from $35.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.17.
Shares of NASDAQ:SWAV traded down $3.39 during midday trading on Friday, reaching $44.35. 1,393,602 shares of the company’s stock traded hands, compared to its average volume of 379,907. Shockwave Medical has a 1 year low of $24.58 and a 1 year high of $68.39. The company has a current ratio of 6.76, a quick ratio of 6.28 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $44.17 and a two-hundred day simple moving average of $39.28.
In other Shockwave Medical news, CEO Douglas Evan Godshall sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $37.42, for a total value of $1,122,600.00. Following the completion of the sale, the chief executive officer now directly owns 46,000 shares of the company’s stock, valued at approximately $1,721,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sofinnova Capital Vii Fcpr sold 58,747 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $43.20, for a total value of $2,537,870.40. The disclosure for this sale can be found here. Insiders sold a total of 542,000 shares of company stock valued at $23,600,976 over the last ninety days.
Several large investors have recently modified their holdings of SWAV. Great West Life Assurance Co. Can acquired a new stake in shares of Shockwave Medical during the 4th quarter worth about $25,000. Cutler Group LP acquired a new stake in shares of Shockwave Medical during the 4th quarter worth about $26,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Shockwave Medical during the 3rd quarter worth about $30,000. Pacitti Group Inc. acquired a new stake in shares of Shockwave Medical during the 4th quarter worth about $39,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Shockwave Medical by 244.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,875 shares of the company’s stock worth $56,000 after purchasing an additional 1,330 shares during the last quarter. 61.10% of the stock is owned by hedge funds and other 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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