ShockWave Medical, Inc. (NASDAQ:SWAV) Given Consensus Rating of “Buy” by Analysts

ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) has received an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $214.50.

A number of research firms have commented on SWAV. Bank of America began coverage on shares of ShockWave Medical in a research note on Wednesday, March 2nd. They issued a “buy” rating for the company. Wolfe Research initiated coverage on shares of ShockWave Medical in a report on Tuesday, April 5th. They issued an “outperform” rating and a $255.00 price objective for the company. TheStreet upgraded shares of ShockWave Medical from a “d” rating to a “c” rating in a report on Monday, March 7th. Morgan Stanley lowered their price objective on shares of ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating for the company in a report on Friday, February 18th. Finally, Wells Fargo & Company lowered their price objective on shares of ShockWave Medical from $235.00 to $176.00 in a report on Tuesday, May 10th.

SWAV stock opened at $174.33 on Friday. 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 has a one year low of $113.36 and a one year high of $249.73. The stock has a market cap of $6.24 billion, a PE ratio of 226.40 and a beta of 1.50. The firm has a 50 day simple moving average of $178.86 and a two-hundred day simple moving average of $174.15.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.20. ShockWave Medical had a net margin of 9.70% and a return on equity of 12.36%. The business had revenue of $93.70 million during the quarter, compared to analysts’ expectations of $86.41 million. During the same quarter in the previous year, the company earned ($0.68) EPS. The business’s quarterly revenue was up 193.7% compared to the same quarter last year. On average, research analysts expect that ShockWave Medical will post 1.85 EPS for the current fiscal year.

In other ShockWave Medical news, Director Laura Francis sold 1,890 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $210.00, for a total value of $396,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trinh Phung sold 3,176 shares of the company’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $215.61, for a total transaction of $684,777.36. Following the completion of the transaction, the vice president now owns 29,695 shares of the company’s stock, valued at $6,402,538.95. The disclosure for this sale can be found here. Insiders have sold a total of 109,971 shares of company stock valued at $18,379,893 over the last quarter. 15.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in ShockWave Medical by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,311,557 shares of the company’s stock worth $686,685,000 after purchasing an additional 67,789 shares in the last quarter. BlackRock Inc. grew its position in shares of ShockWave Medical by 5.5% in the 4th quarter. BlackRock Inc. now owns 2,716,533 shares of the company’s stock worth $484,441,000 after buying an additional 142,368 shares during the period. Invesco Ltd. grew its position in shares of ShockWave Medical by 16.0% in the 1st quarter. Invesco Ltd. now owns 1,398,211 shares of the company’s stock worth $289,933,000 after buying an additional 192,525 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of ShockWave Medical in the 4th quarter worth about $168,314,000. Finally, State Street Corp grew its position in shares of ShockWave Medical by 2.6% in the 1st quarter. State Street Corp now owns 719,408 shares of the company’s stock worth $149,176,000 after buying an additional 18,033 shares during the period. Institutional investors and hedge funds own 89.06% of the company’s stock.

ShockWave Medical Company Profile (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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