Envestnet Asset Management Inc. Buys 2,426 Shares of ShockWave Medical, Inc. (NASDAQ:SWAV)

Envestnet Asset Management Inc. grew its stake in ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) by 9.4% in the second quarter, HoldingsChannel.com reports. The fund owned 28,144 shares of the company’s stock after acquiring an additional 2,426 shares during the period. Envestnet Asset Management Inc.’s holdings in ShockWave Medical were worth $5,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of ShockWave Medical by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,311,557 shares of the company’s stock valued at $686,685,000 after acquiring an additional 67,789 shares during the last quarter. Invesco Ltd. increased its stake 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 valued at $289,933,000 after acquiring an additional 192,525 shares during the last quarter. State Street Corp increased its stake 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 valued at $149,176,000 after acquiring an additional 18,033 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of ShockWave Medical by 7.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 610,237 shares of the company’s stock valued at $126,539,000 after acquiring an additional 42,115 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of ShockWave Medical by 98.5% in the 1st quarter. Jennison Associates LLC now owns 433,534 shares of the company’s stock valued at $89,898,000 after purchasing an additional 215,142 shares during the period. 95.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SWAV. Oppenheimer lowered ShockWave Medical from a “market perform” rating to an “underperform” rating and set a $165.00 price objective for the company. in a research report on Tuesday, September 6th. Wells Fargo & Company boosted their price objective on ShockWave Medical from $255.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on ShockWave Medical from $232.00 to $256.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Bank of America boosted their price objective on ShockWave Medical from $260.00 to $310.00 in a research report on Monday, November 7th. Finally, Morgan Stanley boosted their price objective on ShockWave Medical from $255.00 to $290.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $263.00.

ShockWave Medical Trading Down 8.8 %

NASDAQ:SWAV opened at $246.60 on Friday. ShockWave Medical, Inc. has a twelve month low of $113.36 and a twelve month high of $320.54. The company has a quick ratio of 4.41, a current ratio of 7.29 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $276.74 and a two-hundred day moving average price of $229.30. The company has a market cap of $8.91 billion, a P/E ratio of 105.84 and a beta of 1.03.

Insiders Place Their Bets

In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $292.44, for a total transaction of $1,169,760.00. Following the completion of the transaction, the insider now owns 73,021 shares of the company’s stock, valued at approximately $21,354,261.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Trinh Phung sold 3,500 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $310.76, for a total value of $1,087,660.00. Following the completion of the sale, the vice president now owns 25,063 shares of the company’s stock, valued at approximately $7,788,577.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $292.44, for a total value of $1,169,760.00. Following the completion of the sale, the insider now directly owns 73,021 shares of the company’s stock, valued at approximately $21,354,261.24. The disclosure for this sale can be found here. Insiders sold a total of 28,450 shares of company stock valued at $8,166,829 in the last quarter. 3.90% of the stock is currently owned by insiders.

ShockWave Medical Profile

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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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Institutional Ownership by Quarter for ShockWave Medical (NASDAQ:SWAV)

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