Shockwave Medical (NASDAQ:SWAV) Stock Price Down 5.5%

Shockwave Medical, Inc. (NASDAQ:SWAV) was down 5.5% on Tuesday . The company traded as low as $212.29 and last traded at $213.37. Approximately 113,354 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 558,222 shares. The stock had previously closed at $225.83.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SWAV shares. Needham & Company LLC boosted their target price on Shockwave Medical from $325.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. TheStreet lowered Shockwave Medical from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. Wells Fargo & Company lowered their price target on Shockwave Medical from $275.00 to $251.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 8th. Finally, Morgan Stanley lowered their price target on Shockwave Medical from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.29.

Shockwave Medical Price Performance

The business has a fifty day simple moving average of $244.96 and a two-hundred day simple moving average of $251.83. The company has a current ratio of 5.69, a quick ratio of 4.54 and a debt-to-equity ratio of 0.04. The stock has a market cap of $7.96 billion, a PE ratio of 33.35, a P/E/G ratio of 49.66 and a beta of 0.98.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Monday, August 7th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.09). Shockwave Medical had a return on equity of 47.48% and a net margin of 39.56%. The firm had revenue of $180.17 million for the quarter, compared to analysts’ expectations of $173.79 million. During the same quarter last year, the company posted $0.68 EPS. The firm’s revenue was up 49.2% on a year-over-year basis. Research analysts forecast that Shockwave Medical, Inc. will post 3.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $291.84, for a total value of $1,167,360.00. Following the sale, the insider now owns 60,678 shares in the company, valued at approximately $17,708,267.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $291.84, for a total value of $1,167,360.00. Following the sale, the insider now owns 60,678 shares in the company, valued at approximately $17,708,267.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $214.62, for a total value of $2,146,200.00. Following the completion of the sale, the chief executive officer now owns 141,649 shares in the company, valued at approximately $30,400,708.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,162 shares of company stock worth $7,568,370. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Shockwave Medical

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp grew its stake in shares of Shockwave Medical by 2.1% in the 1st quarter. Fifth Third Bancorp now owns 2,001 shares of the company’s stock worth $434,000 after buying an additional 41 shares during the last quarter. Harbour Investments Inc. boosted its stake in Shockwave Medical by 3.3% during the 1st quarter. Harbour Investments Inc. now owns 1,300 shares of the company’s stock valued at $282,000 after purchasing an additional 41 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in Shockwave Medical by 1.4% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,035 shares of the company’s stock valued at $658,000 after purchasing an additional 43 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Shockwave Medical by 2.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,186 shares of the company’s stock valued at $449,000 after purchasing an additional 49 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its stake in Shockwave Medical by 3.6% during the 1st quarter. Kovack Advisors Inc. now owns 1,665 shares of the company’s stock valued at $361,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

About Shockwave Medical

ShockWave Medical, Inc, a medical device company, develops intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters for use in our IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter for use in IVL System in large diameter vessels.