Shockwave Medical (NASDAQ:SWAV) Hits New 52-Week High at $334.28

Shockwave Medical, Inc. (NASDAQ:SWAV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $334.28 and last traded at $334.26, with a volume of 283837 shares trading hands. The stock had previously closed at $329.64.

Wall Street Analyst Weigh In

SWAV has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Shockwave Medical from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Friday, February 16th. Morgan Stanley reiterated an "equal weight" rating and set a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Leerink Partnrs lowered shares of Shockwave Medical from an "outperform" rating to a "market perform" rating in a report on Friday, April 5th. Canaccord Genuity Group reiterated a "hold" rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Shockwave Medical in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $309.11.

Shockwave Medical Stock Up 1.3 %

The company's fifty day simple moving average is $320.08 and its 200 day simple moving average is $249.16. The firm has a market capitalization of $12.54 billion, a PE ratio of 78.04, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last released its earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The firm had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. During the same period last year, the business earned $1.03 earnings per share. The business's revenue was up 35.8% on a year-over-year basis. Analysts anticipate that Shockwave Medical, Inc. will post 5.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction that occurred on 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 transaction, the director now directly owns 3,551 shares in the company, valued at $1,065,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frank T. Watkins sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $253.65, for a total transaction of $507,300.00. Following the completion of the sale, the director now owns 4,532 shares of the company's stock, valued at $1,149,541.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Francis sold 1,500 shares of the firm'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 transaction of $450,000.00. Following the sale, the director now directly owns 3,551 shares of the company's stock, valued at approximately $1,065,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,120 shares of company stock worth $3,310,021. Insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Shockwave Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Robbins Farley increased its position in shares of Shockwave Medical by 1.0% during the fourth quarter. Robbins Farley now owns 4,542 shares of the company's stock valued at $866,000 after acquiring an additional 45 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Shockwave Medical by 0.8% during the 1st quarter. Advisors Asset Management Inc. now owns 5,731 shares of the company's stock worth $1,866,000 after acquiring an additional 45 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Shockwave Medical by 3.8% during the 4th quarter. Parallel Advisors LLC now owns 1,268 shares of the company's stock worth $242,000 after acquiring an additional 47 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Shockwave Medical by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company's stock valued at $3,263,000 after buying an additional 60 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Shockwave Medical by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 135 shares of the company's stock valued at $44,000 after buying an additional 65 shares in the last quarter. Institutional investors own 95.35% of the company's stock.

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.