Shockwave Medical, Inc. (NASDAQ:SWAV) Receives $309.11 Consensus Price Target from Brokerages

Shares of Shockwave Medical, Inc. (NASDAQ:SWAV) have been assigned an average recommendation of “Hold” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $309.11.

A number of brokerages have recently weighed in on SWAV. Morgan Stanley restated an “equal weight” rating and issued a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $335.00 price objective (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. 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, April 8th. Wolfe Research reiterated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, Wells Fargo & Company upped their price objective on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th.

Shockwave Medical Price Performance

Shares of NASDAQ SWAV opened at $334.15 on Wednesday. Shockwave Medical has a twelve month low of $157.00 and a twelve month high of $334.28. The stock’s 50 day moving average price is $321.44 and its 200-day moving average price is $249.75. The company has a market capitalization of $12.55 billion, a PE ratio of 78.07, a PEG ratio of 2.43 and a beta of 0.88. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97.

Shockwave Medical (NASDAQ:SWAV) last announced its earnings results on Monday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The firm had revenue of $218.80 million for the quarter, compared to the consensus estimate of $207.69 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s revenue was up 35.8% compared to the same quarter last year. On average, equities analysts anticipate that Shockwave Medical will post 5.05 EPS for the current year.

Insider Buying and Selling at Shockwave Medical

In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $260.36, for a total value of $1,041,440.00. Following the transaction, the insider now owns 61,372 shares of the company’s stock, valued at $15,978,813.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $260.36, for a total value of $1,041,440.00. Following the transaction, the insider now owns 61,372 shares of the company’s stock, valued at $15,978,813.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laura Francis sold 1,500 shares of the 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 completion of the transaction, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The disclosure for this sale can be found here. Insiders have sold 11,521 shares of company stock valued at $3,154,736 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SWAV. Principal Financial Group Inc. boosted its position in Shockwave Medical by 1.1% during the third quarter. Principal Financial Group Inc. now owns 146,893 shares of the company’s stock valued at $29,246,000 after buying an additional 1,587 shares during the period. Signaturefd LLC boosted its position in Shockwave Medical by 79.1% during the third quarter. Signaturefd LLC now owns 471 shares of the company’s stock valued at $94,000 after buying an additional 208 shares during the period. EverSource Wealth Advisors LLC boosted 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 valued at $31,000 after buying an additional 116 shares during the period. Lincoln National Corp boosted its holdings in shares of Shockwave Medical by 8.8% during the third quarter. Lincoln National Corp now owns 1,274 shares of the company’s stock worth $254,000 after purchasing an additional 103 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Shockwave Medical by 1.7% during the third quarter. Arizona State Retirement System now owns 10,428 shares of the company’s stock worth $2,076,000 after purchasing an additional 177 shares during the period. 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.