Shockwave Medical (NASDAQ:SWAV) Downgraded by Leerink Partnrs

Leerink Partnrs cut shares of Shockwave Medical (NASDAQ:SWAV - Free Report) from an outperform rating to a market perform rating in a research note published on Friday, Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Wolfe Research reaffirmed a peer perform rating on shares of Shockwave Medical in a report on Friday. TheStreet raised Shockwave Medical from a c+ rating to a b rating in a report on Thursday, February 15th. CL King reissued a neutral rating on shares of Shockwave Medical in a report on Monday. SVB Leerink reissued a market perform rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a report on Monday. Finally, Needham & Company LLC reissued a hold rating on shares of Shockwave Medical in a report on Friday. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $305.70.

Shockwave Medical Stock Performance

SWAV traded up $1.75 during trading on Friday, reaching $327.35. 3,047,647 shares of the company's stock were exchanged, compared to its average volume of 896,007. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. The business has a 50 day moving average price of $270.77 and a 200 day moving average price of $221.82. The company has a market capitalization of $12.24 billion, a P/E ratio of 84.59, a PEG ratio of 2.76 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The business's revenue was up 41.0% on a year-over-year basis. During the same period last year, the business earned $3.71 earnings per share. As a group, analysts predict that Shockwave Medical will post 4.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Shockwave Medical

In other news, insider Isaac Zacharias sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the sale, the insider now owns 56,818 shares in the company, valued at approximately $16,344,834.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $217.59, for a total value of $2,175,900.00. Following the sale, the chief executive officer now owns 141,057 shares in the company, valued at approximately $30,692,592.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of the company's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the completion of the transaction, the insider now directly owns 56,818 shares in the company, valued at $16,344,834.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,813 shares of company stock worth $25,938,579. Corporate insiders own 3.40% of the company's stock.

Institutional Trading of Shockwave Medical

Several large investors have recently modified their holdings of SWAV. Raymond James & Associates grew its holdings in shares of Shockwave Medical by 1.8% during the 1st quarter. Raymond James & Associates now owns 4,644 shares of the company's stock worth $963,000 after purchasing an additional 81 shares in the last quarter. Bank of New York Mellon Corp raised its position in Shockwave Medical by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company's stock valued at $31,361,000 after purchasing an additional 3,771 shares during the last quarter. Rhumbline Advisers raised its position in shares of Shockwave Medical by 1.5% during the first quarter. Rhumbline Advisers now owns 35,441 shares of the company's stock worth $7,349,000 after acquiring an additional 526 shares during the last quarter. Vontobel Holding Ltd. bought a new position in shares of Shockwave Medical during the first quarter worth about $407,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Shockwave Medical by 36.3% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the company's stock worth $166,000 after acquiring an additional 213 shares during the last quarter. 95.35% 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 (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.