Sanuwave Health (NASDAQ:SNWV) Raised to Buy at Wall Street Zen

Key Points

• Sanuwave Health's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, signaling increased confidence from analysts.
• Roth Capital initiated coverage on Sanuwave Health, also issuing a "buy" rating with a target price of $49.00 per share.
• Sanuwave Health reported a positive earnings surprise with earnings per share of $0.01, exceeding consensus estimates that projected a loss.

Wall Street Zen upgraded shares of Sanuwave Health (NASDAQ:SNWV - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

Separately, Roth Capital began coverage on Sanuwave Health in a research report on Tuesday, July 29th. They set a "buy" rating and a $49.00 price objective for the company.

Sanuwave Health Stock Performance

Shares of NASDAQ SNWV traded up $0.47 during midday trading on Friday, hitting $42.17. 5,003 shares of the company's stock were exchanged, compared to its average volume of 52,329. The business's 50 day moving average is $34.10. The stock has a market cap of $361.40 million, a price-to-earnings ratio of -5.11 and a beta of 1.29. Sanuwave Health has a twelve month low of $5.21 and a twelve month high of $46.58.

Sanuwave Health (NASDAQ:SNWV - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. The business had revenue of $10.16 million for the quarter, compared to analyst estimates of $10.14 million.

Insider Buying and Selling

In other Sanuwave Health news, COO Peter Stegagno sold 1,862 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $27.71, for a total value of $51,596.02. Following the completion of the sale, the chief operating officer directly owned 2,032 shares in the company, valued at $56,306.72. This represents a 47.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Iulian Cioanta sold 3,639 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $31.60, for a total value of $114,992.40. Following the completion of the sale, the insider owned 41 shares of the company's stock, valued at $1,295.60. This trade represents a 98.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company's stock.

Institutional Investors Weigh In On Sanuwave Health

A number of institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund acquired a new stake in Sanuwave Health in the second quarter worth approximately $102,000. Rhumbline Advisers acquired a new stake in Sanuwave Health in the second quarter worth approximately $211,000. Legal & General Group Plc bought a new position in shares of Sanuwave Health in the second quarter valued at $26,000. JPMorgan Chase & Co. bought a new position in shares of Sanuwave Health in the second quarter valued at $109,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Sanuwave Health in the second quarter valued at $52,000. 42.53% of the stock is currently owned by institutional investors and hedge funds.

Sanuwave Health Company Profile

SANUWAVE Health, Inc, a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, and musculoskeletal and vascular structures.