Shockwave Medical, Inc. (NASDAQ:SWAV) Receives $309.11 Consensus Target Price from Brokerages

Shares of Shockwave Medical, Inc. (NASDAQ:SWAV) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $309.11.

Several research analysts recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler boosted their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. SVB Leerink restated a “market perform” rating and issued a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th.

Insiders Place Their Bets

In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at this link. In other 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 of the company’s stock, valued at approximately $1,065,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the transaction, the director now owns 287,521 shares in the company, valued at $74,005,030.19. The disclosure for this sale can be found here. Insiders sold a total of 86,407 shares of company stock worth $22,081,356 over the last three months. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shockwave Medical

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of Shockwave Medical by 36.8% during the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after acquiring an additional 664,648 shares during the last quarter. Norges Bank acquired a new stake in Shockwave Medical during the fourth quarter valued at $68,759,000. Jackson Square Partners LLC purchased a new position in shares of Shockwave Medical in the 4th quarter valued at about $53,766,000. Armistice Capital LLC increased its position in shares of Shockwave Medical by 168.0% in the fourth quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock valued at $81,189,000 after buying an additional 267,055 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Shockwave Medical by 21.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock worth $278,369,000 after acquiring an additional 250,352 shares during the period. 95.35% of the stock is owned by institutional investors and hedge funds.

Shockwave Medical Stock Up 0.1 %

Shockwave Medical stock opened at $330.38 on Friday. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 85.37, a PEG ratio of 2.45 and a beta of 0.88. Shockwave Medical has a 52-week low of $157.00 and a 52-week high of $331.58. 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 50 day moving average price of $301.64 and a two-hundred day moving average price of $237.81.

Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. The company had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. Shockwave Medical’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.71 EPS. Equities analysts predict that Shockwave Medical will post 4.94 EPS for the current year.

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.