ShockWave Medical, Inc. (NASDAQ:SWAV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $216.14.

A number of brokerages have commented on SWAV. Canaccord Genuity Group lowered their target price on ShockWave Medical from $221.00 to $190.00 in a report on Tuesday, May 10th. Wells Fargo & Company reduced their price target on ShockWave Medical from $235.00 to $176.00 in a research note on Tuesday, May 10th. Wolfe Research assumed coverage on ShockWave Medical in a research note on Tuesday, April 5th. They set an “outperform” rating and a $255.00 price target on the stock. TheStreet raised ShockWave Medical from a “d” rating to a “c” rating in a research note on Monday, March 7th. Finally, Bank of America assumed coverage on ShockWave Medical in a research note on Wednesday, March 2nd. They set a “buy” rating on the stock.

In other news, VP Trinh Phung sold 3,176 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 29,695 shares in the company, valued at $6,402,538.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas Evan Godshall sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $140.87, for a total value of $2,113,050.00. Following the sale, the chief executive officer now owns 142,926 shares of the company’s stock, valued at $20,133,985.62. The disclosure for this sale can be found here. Insiders sold 59,971 shares of company stock worth $10,303,167 over the last three months. 15.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in ShockWave Medical by 104.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 85 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in ShockWave Medical in the first quarter worth about $40,000. PenderFund Capital Management Ltd. acquired a new position in ShockWave Medical in the first quarter worth about $41,000. First Horizon Advisors Inc. grew its stake in ShockWave Medical by 67.7% in the fourth quarter. First Horizon Advisors Inc. now owns 260 shares of the company’s stock worth $45,000 after purchasing an additional 105 shares in the last quarter. Finally, Signaturefd LLC grew its stake in ShockWave Medical by 73.6% in the first quarter. Signaturefd LLC now owns 224 shares of the company’s stock worth $46,000 after purchasing an additional 95 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

SWAV opened at $168.04 on Wednesday. The stock has a market cap of $6.01 billion, a P/E ratio of 218.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.07 and a quick ratio of 5.03. The stock’s 50 day simple moving average is $169.25 and its 200 day simple moving average is $170.95. ShockWave Medical has a 1-year low of $113.36 and a 1-year high of $249.73.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.20. The business had revenue of $93.70 million for the quarter, compared to analysts’ expectations of $86.41 million. ShockWave Medical had a return on equity of 12.36% and a net margin of 9.70%. The company’s revenue was up 193.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.68) EPS. Research analysts expect that ShockWave Medical will post 1.84 EPS for the current fiscal year.

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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