Shockwave Medical (NASDAQ:SWAV) Stock Rating Lowered by Leerink Partnrs

Leerink Partnrs downgraded shares of Shockwave Medical (NASDAQ:SWAV) from an outperform rating to a market perform rating in a report issued on Friday morning, Zacks.com reports.

SWAV has been the subject of several other research reports. SVB Leerink reiterated a market perform rating and issued a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $335.00 price objective (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an equal weight rating in a research note on Friday, February 16th. Wolfe Research reissued a peer perform rating on shares of Shockwave Medical in a research report on Friday. Finally, Morgan Stanley reissued an equal weight rating and issued a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $305.70.

Shockwave Medical Stock Down 0.2 %

Shockwave Medical stock opened at $325.60 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. Shockwave Medical has a 52-week low of $157.00 and a 52-week high of $331.58. The firm has a 50 day moving average price of $268.75 and a two-hundred day moving average price of $220.89. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 84.13, a PEG ratio of 2.76 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.24. The company had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. Shockwave Medical’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.71 EPS. Equities analysts predict that Shockwave Medical will post 4.89 EPS for the current year.

Insiders Place Their Bets

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the transaction, the vice president now directly owns 32,933 shares of the company’s stock, valued at approximately $7,646,383.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Trinh Phung sold 1,287 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total transaction of $298,815.66. Following the completion of the transaction, the vice president now directly owns 32,933 shares in the company, valued at $7,646,383.94. The disclosure for this sale can be found here. Insiders have sold 103,813 shares of company stock valued at $25,938,579 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 made changes to their positions in SWAV. Lindbrook Capital LLC boosted its holdings in shares of Shockwave Medical by 64.8% in the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after acquiring an additional 116 shares during the period. Quarry LP bought a new stake in Shockwave Medical in the 4th quarter valued at about $33,000. Asset Management One Co. Ltd. bought a new stake in Shockwave Medical in the 4th quarter valued at about $34,000. Finally, Quest Partners LLC bought a new stake in Shockwave Medical in the 4th quarter valued at about $41,000. 95.35% of the stock is owned by hedge funds and other institutional investors.

Shockwave Medical Company Profile

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.