ShockWave Medical (NASDAQ:SWAV) Shares Gap Down to $201.91

ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) shares gapped down before the market opened on Tuesday . The stock had previously closed at $201.91, but opened at $189.65. ShockWave Medical shares last traded at $185.88, with a volume of 8,665 shares changing hands.

Analysts Set New Price Targets

SWAV has been the topic of several recent analyst reports. Wells Fargo & Company cut shares of ShockWave Medical from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $300.00 to $235.00 in a research note on Monday, December 12th. Bank of America boosted their price objective on ShockWave Medical from $260.00 to $310.00 in a report on Monday, November 7th. Morgan Stanley dropped their target price on shares of ShockWave Medical from $290.00 to $224.00 and set an “equal weight” rating for the company in a research report on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ShockWave Medical in a research report on Friday, December 16th. They set a “buy” rating and a $285.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, ShockWave Medical currently has an average rating of “Moderate Buy” and an average price target of $250.89.

ShockWave Medical Stock Performance

The company has a market cap of $6.54 billion, a P/E ratio of 77.64 and a beta of 1.04. The business has a 50 day moving average price of $225.38 and a two-hundred day moving average price of $248.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.02 and a current ratio of 7.29.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last issued its earnings results on Monday, November 7th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.68 by $0.24. ShockWave Medical had a net margin of 20.48% and a return on equity of 30.08%. The company had revenue of $131.33 million for the quarter, compared to the consensus estimate of $125.85 million. On average, sell-side analysts anticipate that ShockWave Medical, Inc. will post 2.95 earnings per share for the current year.

Insider Buying and Selling at ShockWave Medical

In other news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $292.44, for a total transaction of $1,169,760.00. Following the completion of the sale, the insider now directly owns 73,021 shares in the company, valued at $21,354,261.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Wednesday, October 26th. The stock was 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 owns 73,021 shares in the company, valued at approximately $21,354,261.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank T. Watkins sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $244.44, for a total value of $733,320.00. Following the transaction, the director now directly owns 3,796 shares in the company, valued at $927,894.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,200 shares of company stock worth $13,556,199. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ShockWave Medical

Large investors have recently modified their holdings of the stock. Tobam bought a new stake in ShockWave Medical during the 3rd quarter valued at approximately $32,000. PenderFund Capital Management Ltd. bought a new stake in shares of ShockWave Medical during the first quarter valued at approximately $41,000. CWM LLC boosted its position in shares of ShockWave Medical by 219.7% during the second quarter. CWM LLC now owns 195 shares of the company’s stock valued at $37,000 after purchasing an additional 134 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new position in ShockWave Medical during the fourth quarter valued at $41,000. Finally, Altshuler Shaham Ltd purchased a new stake in shares of ShockWave Medical in the 3rd quarter worth about $58,000. Institutional investors own 90.56% of the company’s stock.

ShockWave Medical Company 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.