Shockwave Medical (NASDAQ:SWAV) Price Target Raised to

Shockwave Medical (NASDAQ:SWAV) had its target price boosted by equities research 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.

Other analysts also recently issued reports about the stock. Canaccord Genuity decreased their price objective on shares of Shockwave Medical from $65.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Co upgraded shares of Shockwave Medical from a “market perform” rating to an “overweight” rating and set a $49.00 price objective on the stock in a research report on Thursday, December 12th. ValuEngine downgraded shares of Shockwave Medical from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Morgan Stanley raised their target price on shares of Shockwave Medical from $35.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer initiated coverage on shares of Shockwave Medical in a research note on Tuesday, October 22nd. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.17.

Shares of SWAV stock traded down $3.39 on Friday, hitting $44.35. 1,393,602 shares of the stock traded hands, compared to its average volume of 379,907. Shockwave Medical has a 52 week low of $24.58 and a 52 week high of $68.39. The firm has a 50 day simple moving average of $44.17 and a two-hundred day simple moving average of $39.28. The company has a quick ratio of 6.28, a current ratio of 6.76 and a debt-to-equity ratio of 0.09.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.02. The firm had revenue of $14.31 million for the quarter, compared to the consensus estimate of $13.34 million. Sell-side analysts expect that Shockwave Medical will post -1.97 EPS for the current fiscal year.

In related news, CEO Douglas Evan Godshall sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $37.42, for a total transaction of $1,122,600.00. Following the completion of the transaction, the chief executive officer now directly owns 46,000 shares of the company’s stock, valued at $1,721,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.96, for a total transaction of $179,840.00. Following the transaction, the insider now directly owns 9,000 shares of the company’s stock, valued at $404,640. The disclosure for this sale can be found here. Insiders have sold 542,000 shares of company stock valued at $23,600,976 over the last ninety days.

Large investors have recently modified their holdings of the business. Great West Life Assurance Co. Can purchased a new position in shares of Shockwave Medical in the 4th quarter worth $25,000. Cutler Group LP purchased a new position in shares of Shockwave Medical in the 4th quarter worth $26,000. Wealthcare Advisory Partners LLC purchased a new position in shares of Shockwave Medical in the 3rd quarter worth $30,000. Pacitti Group Inc. purchased a new position in shares of Shockwave Medical in the 4th quarter worth $39,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Shockwave Medical by 244.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,875 shares of the company’s stock worth $56,000 after buying an additional 1,330 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

Shockwave Medical Company Profile

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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