Shockwave Medical (NASDAQ:SWAV) Stock Rating Reaffirmed by CL King

Shockwave Medical (NASDAQ:SWAV)‘s stock had its “neutral” rating reiterated by equities researchers at CL King in a note issued to investors on Monday, Benzinga reports.

Other research analysts have also issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Canaccord Genuity Group restated a “hold” rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research report on Monday. Finally, Piper Sandler upped their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $305.70.

Shockwave Medical Trading Up 0.5 %

NASDAQ SWAV opened at $327.35 on Monday. The stock has a market capitalization of $12.24 billion, a P/E ratio of 84.59, a P/E/G ratio of 2.76 and a beta of 0.92. 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 $270.77 and a 200 day moving average price of $221.82. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09.

Shockwave Medical (NASDAQ:SWAV) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.24. The firm had revenue of $202.98 million during the quarter, compared to analysts’ expectations of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.71 earnings per share. Equities research analysts expect that Shockwave Medical will post 4.89 EPS for the current year.

Insider Activity

In other news, VP Trinh Phung sold 1,287 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 in the company, valued at $7,646,383.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $217.59, for a total transaction of $2,175,900.00. Following the sale, the chief executive officer now owns 141,057 shares in the company, valued at $30,692,592.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Trinh Phung sold 1,287 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total transaction of $298,815.66. Following the sale, the vice president now owns 32,933 shares in the company, valued at approximately $7,646,383.94. The disclosure for this sale can be found here. Insiders have sold 103,813 shares of company stock worth $25,938,579 over the last ninety days. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Shockwave Medical

A number of hedge funds have recently bought and sold shares of SWAV. Wellington Management Group LLP boosted its position in Shockwave Medical by 36.8% during the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after acquiring an additional 664,648 shares during the last quarter. Norges Bank purchased a new position in Shockwave Medical during the fourth quarter worth approximately $104,982,000. JPMorgan Chase & Co. raised its stake in Shockwave Medical by 57.9% during the first quarter. JPMorgan Chase & Co. now owns 1,273,747 shares of the company’s stock worth $276,185,000 after purchasing an additional 467,237 shares during the period. State Street Corp raised its stake in Shockwave Medical by 56.5% during the second quarter. State Street Corp now owns 1,125,735 shares of the company’s stock worth $215,207,000 after purchasing an additional 406,327 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Shockwave Medical by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,394,767 shares of the company’s stock worth $302,428,000 after purchasing an additional 382,374 shares during the period. Institutional investors and hedge funds own 95.35% of the company’s stock.

About Shockwave Medical

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.