Morgan Stanley Reiterates Equal Weight Rating for Shockwave Medical (NASDAQ:SWAV)

Shockwave Medical (NASDAQ:SWAV)‘s stock had its “equal weight” rating reiterated by Morgan Stanley in a research report issued on Monday, Benzinga reports. They currently have a $335.00 price objective on the stock, up from their previous price objective of $285.00. Morgan Stanley’s target price points to a potential upside of 2.34% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. CL King assumed coverage on shares of Shockwave Medical in a research report on Wednesday, March 27th. They set a “buy” rating and a $368.00 price target for the company. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Piper Sandler boosted their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $305.70.

Shockwave Medical Stock Up 0.5 %

Shares of NASDAQ:SWAV opened at $327.35 on Monday. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The company has a 50 day moving average of $270.77 and a 200-day moving average of $221.82. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 84.59, a P/E/G ratio of 2.76 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping 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 company had revenue of $202.98 million during the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter in the previous year, the company earned $3.71 EPS. Shockwave Medical’s revenue was up 41.0% on a year-over-year basis. On average, sell-side analysts forecast that Shockwave Medical will post 4.89 earnings per share for the current year.

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now owns 3,551 shares in the company, valued at $1,065,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the sale, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Trinh Phung sold 599 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the completion of the sale, the vice president now directly owns 31,031 shares in the company, valued at approximately $8,044,476.44. The disclosure for this sale can be found here. Insiders sold 103,813 shares of company stock worth $25,938,579 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Trading of Shockwave Medical

A number of institutional investors have recently made changes to their positions in SWAV. Lindbrook Capital LLC lifted its position in shares of Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Shockwave Medical by 297.4% during the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares in the last quarter. Rise Advisors LLC bought a new stake in Shockwave Medical during the first quarter worth $32,000. Quarry LP bought a new stake in Shockwave Medical during the fourth quarter worth $33,000. Finally, Asset Management One Co. Ltd. bought a new stake in Shockwave Medical during the fourth quarter worth $34,000. Institutional investors own 95.35% of the company’s stock.

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.