Shockwave Medical (NASDAQ:SWAV) Price Target Raised to $360.00 at Piper Sandler

Shockwave Medical (NASDAQ:SWAVGet Free Report) had its price target boosted by analysts at Piper Sandler from $290.00 to $360.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 12.32% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Shockwave Medical from $260.00 to $286.00 and gave the company a “buy” rating in a report on Friday, February 16th. CL King began coverage on shares of Shockwave Medical in a report on Wednesday, March 27th. They issued a “buy” rating and a $368.00 price target on the stock. Morgan Stanley lowered their price objective on Shockwave Medical from $284.00 to $223.00 and set an “overweight” rating on the stock in a research report on Monday, December 4th. Wells Fargo & Company upped their price objective on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Finally, TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $279.22.

Read Our Latest Research Report on SWAV

Shockwave Medical Stock Performance

Shares of Shockwave Medical stock opened at $320.51 on Tuesday. The company has a market capitalization of $11.99 billion, a PE ratio of 82.82, a P/E/G ratio of 2.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The company has a 50-day simple moving average of $259.04 and a two-hundred day simple moving average of $216.82. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58.

Shockwave Medical (NASDAQ:SWAVGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The firm had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. During the same quarter in the prior year, the company posted $3.71 earnings per share. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. Research analysts expect that Shockwave Medical will post 4.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shockwave Medical news, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $200.05, for a total value of $2,000,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,057 shares of the company’s stock, valued at approximately $28,218,452.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $200.05, for a total transaction of $2,000,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,057 shares of the company’s stock, valued at approximately $28,218,452.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trinh Phung sold 1,287 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total value of $298,815.66. Following the sale, the vice president now directly owns 32,933 shares of the company’s stock, valued at $7,646,383.94. The disclosure for this sale can be found here. Insiders sold 115,813 shares of company stock valued at $28,337,059 in the last three months. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shockwave Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. boosted its holdings 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 acquiring an additional 41 shares during the period. Snowden Capital Advisors LLC boosted its holdings 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 acquiring an additional 43 shares during the period. Robbins Farley boosted its holdings in Shockwave Medical by 1.0% during the 4th quarter. Robbins Farley now owns 4,542 shares of the company’s stock valued at $866,000 after acquiring an additional 45 shares during the period. Parallel Advisors LLC boosted its holdings in Shockwave Medical by 3.8% during the 4th quarter. Parallel Advisors LLC now owns 1,268 shares of the company’s stock valued at $242,000 after acquiring an additional 47 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Shockwave Medical by 11.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after buying an additional 50 shares during the period. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

About Shockwave Medical

(Get Free Report)

Shockwave Medical, Inc, a medical device company, develops and commercializes 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 used in 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 used for IVL System in large diameter vessels.

Further Reading

Analyst Recommendations for Shockwave Medical (NASDAQ:SWAV)

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