Shockwave Medical (NASDAQ:SWAV) Hits New 12-Month High at $327.73

Shockwave Medical, Inc. (NASDAQ:SWAV) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $327.73 and last traded at $320.88, with a volume of 2666469 shares. The stock had previously closed at $287.23.

Analysts Set New Price Targets

A number of brokerages have issued reports on SWAV. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. CL King assumed coverage on Shockwave Medical in a report on Wednesday. They issued a “buy” rating and a $368.00 price target on the stock. Piper Sandler boosted their price objective on Shockwave Medical from $275.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Needham & Company LLC raised their target price on shares of Shockwave Medical from $260.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Wells Fargo & Company lifted their target price on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $271.44.

Shockwave Medical Price Performance

The stock has a market cap of $12.18 billion, a PE ratio of 84.14, a PEG ratio of 2.67 and a beta of 0.90. 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 firm has a 50-day moving average of $254.81 and a 200-day moving average of $215.40.

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

Insiders Place Their Bets

In related news, Director Frederic H. Moll sold 60,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the sale, the director now owns 287,521 shares of the company’s stock, valued at $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Shockwave Medical news, Director Frederic H. Moll sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the sale, the director now directly owns 287,521 shares of the company’s stock, valued at $74,005,030.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura Francis sold 1,500 shares of the firm’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 sale, the director now directly owns 3,551 shares of the company’s stock, valued at $1,065,300. The disclosure for this sale can be found here. Insiders have sold a total of 115,813 shares of company stock valued at $28,337,059 in the last quarter. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Shockwave Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWAV. Raymond James & Associates grew its stake in shares of Shockwave Medical by 1.8% during the first quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock valued at $963,000 after buying an additional 81 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Shockwave Medical by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company’s stock worth $31,361,000 after buying an additional 3,771 shares during the period. Rhumbline Advisers grew its stake in Shockwave Medical by 1.5% in the first quarter. Rhumbline Advisers now owns 35,441 shares of the company’s stock valued at $7,349,000 after purchasing an additional 526 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Shockwave Medical during the first quarter worth $407,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Shockwave Medical by 36.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock worth $166,000 after buying an additional 213 shares during the last quarter. 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.