ShockWave Medical, Inc. (NASDAQ:SWAV) Director Frank T. Watkins Sells 3,000 Shares

ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) Director Frank T. Watkins sold 3,000 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $162.98, for a total transaction of $488,940.00. Following the completion of the sale, the director now owns 20,802 shares of the company’s stock, valued at approximately $3,390,309.96. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of SWAV traded up $7.30 during midday trading on Monday, hitting $165.57. 466,717 shares of the company traded hands, compared to its average volume of 487,471. The stock has a 50-day moving average of $179.47 and a 200-day moving average of $175.23. ShockWave Medical, Inc. has a one year low of $113.36 and a one year high of $249.73. The firm has a market cap of $5.93 billion, a P/E ratio of 215.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.07 and a quick ratio of 5.03.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.20. ShockWave Medical had a return on equity of 12.36% and a net margin of 9.70%. The firm had revenue of $93.70 million for the quarter, compared to analysts’ expectations of $86.41 million. During the same period in the prior year, the business posted ($0.68) earnings per share. The company’s revenue was up 193.7% on a year-over-year basis. Sell-side analysts forecast that ShockWave Medical, Inc. will post 1.85 EPS for the current fiscal year.

SWAV has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of ShockWave Medical from $272.00 to $245.00 in a report on Friday, February 18th. Morgan Stanley cut their price target on shares of ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating on the stock in a report on Friday, February 18th. SVB Leerink boosted their price target on shares of ShockWave Medical from $160.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, February 18th. Wells Fargo & Company cut their price target on shares of ShockWave Medical from $235.00 to $176.00 in a report on Tuesday, May 10th. Finally, Wolfe Research started coverage on shares of ShockWave Medical in a report on Tuesday, April 5th. They set an “outperform” rating and a $255.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $212.89.

Several hedge funds have recently bought and sold shares of SWAV. Rockefeller Capital Management L.P. grew its position in ShockWave Medical by 104.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in ShockWave Medical in the third quarter worth $38,000. AdvisorShares Investments LLC purchased a new position in ShockWave Medical during the first quarter valued at $40,000. PNC Financial Services Group Inc. lifted its position in ShockWave Medical by 30.3% during the third quarter. PNC Financial Services Group Inc. now owns 202 shares of the company’s stock valued at $41,000 after buying an additional 47 shares during the period. Finally, PenderFund Capital Management Ltd. bought a new position in shares of ShockWave Medical during the first quarter valued at $41,000. Institutional investors own 89.06% of the company’s stock.

About ShockWave Medical (Get Rating)

ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of 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 (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.

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