Shockwave Medical, Inc. (NASDAQ:SWAV) Given Average Recommendation of "Hold" by Brokerages

Shares of Shockwave Medical, Inc. (NASDAQ:SWAV - Get Free Report) have received a consensus rating of "Hold" from the eleven ratings firms that are currently covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $309.11.

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an "equal weight" rating and set a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. SVB Leerink restated a "market perform" rating and set a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. CL King restated a "neutral" rating on shares of Shockwave Medical in a research note on Monday, April 8th. Leerink Partnrs cut Shockwave Medical from an "outperform" rating to a "market perform" rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on Shockwave Medical from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, February 16th.

Insider Activity

In related news, VP Trinh Phung sold 599 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the sale, the vice president now directly owns 31,031 shares in the company, valued at $8,044,476.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total value of $1,150,680.00. Following the completion of the sale, the insider now directly owns 56,818 shares in the company, valued at $16,344,834.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Trinh Phung sold 599 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the sale, the vice president now owns 31,031 shares of the company's stock, valued at $8,044,476.44. The disclosure for this sale can be found here. In 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 Trading of Shockwave Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Shockwave Medical by 36.8% during the 4th 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 period. Norges Bank acquired a new stake in Shockwave Medical during the 4th quarter worth about $68,759,000. Jackson Square Partners LLC acquired a new stake in Shockwave Medical during the 4th quarter worth about $53,766,000. Armistice Capital LLC grew its holdings in Shockwave Medical by 168.0% during the 4th quarter. Armistice Capital LLC now owns 426,057 shares of the company's stock worth $81,189,000 after acquiring an additional 267,055 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Shockwave Medical during the 1st quarter worth about $85,535,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Shockwave Medical Price Performance

NASDAQ:SWAV traded up $4.37 during trading hours on Wednesday, reaching $334.01. 1,964,110 shares of the company were exchanged, compared to its average volume of 914,753. The company has a market capitalization of $12.54 billion, a P/E ratio of 78.04, a P/E/G ratio of 2.40 and a beta of 0.88. Shockwave Medical has a 1-year low of $157.00 and a 1-year high of $334.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.81 and a quick ratio of 12.61. The business has a 50 day moving average of $320.08 and a 200 day moving average of $249.16.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.45. The business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $207.69 million. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The firm's quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Research analysts forecast that Shockwave Medical will post 5.05 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.