Brokerages Set Shockwave Medical, Inc. (NASDAQ:SWAV) Target Price at $309.11

Shockwave Medical, Inc. (NASDAQ:SWAV) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $309.11.

A number of equities analysts recently commented on the company. Leerink Partnrs cut Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. SVB Leerink reiterated a “market perform” rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Piper Sandler raised their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Finally, TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th.

Insiders Place Their Bets

In other news, Director Frank T. Watkins sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $253.65, for a total transaction of $507,300.00. Following the completion of the transaction, the director now owns 4,532 shares in the company, valued at $1,149,541.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the sale, the insider now owns 56,818 shares of the company’s stock, valued at $16,344,834.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frank T. Watkins sold 2,000 shares of Shockwave Medical stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $253.65, for a total transaction of $507,300.00. Following the completion of the transaction, the director now directly owns 4,532 shares of the company’s stock, valued at $1,149,541.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,521 shares of company stock worth $2,113,296 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in Shockwave Medical by 484.9% during the third quarter. Covestor Ltd now owns 427 shares of the company’s stock valued at $85,000 after purchasing an additional 354 shares during the period. International Assets Investment Management LLC lifted its position in Shockwave Medical by 18,122.1% in the fourth quarter. International Assets Investment Management LLC now owns 141,586 shares of the company’s stock worth $26,981,000 after buying an additional 140,809 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Shockwave Medical by 29.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 224,589 shares of the company’s stock worth $42,798,000 after buying an additional 50,478 shares during the last quarter. American Century Companies Inc. boosted its stake in Shockwave Medical by 109.0% during the third quarter. American Century Companies Inc. now owns 170,866 shares of the company’s stock worth $34,019,000 after buying an additional 89,094 shares during the period. Finally, AMI Asset Management Corp bought a new position in Shockwave Medical during the fourth quarter valued at $4,092,000. Institutional investors own 95.35% of the company’s stock.

Shockwave Medical Trading Up 0.1 %

Shockwave Medical stock opened at $334.55 on Wednesday. Shockwave Medical has a 52-week low of $157.00 and a 52-week high of $334.75. The company has a market cap of $12.56 billion, a P/E ratio of 78.17, a P/E/G 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. The business has a 50-day simple moving average of $323.78 and a two-hundred day simple moving average of $252.85.

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

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.