ShockWave Medical, Inc. (NASDAQ:SWAV) Director Frank T. Watkins sold 8,000 shares of the business’s stock in a transaction on Wednesday, December 16th. The shares were sold at an average price of $96.86, for a total transaction of $774,880.00. Following the transaction, the director now directly owns 111,974 shares in the company, valued at $10,845,801.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
ShockWave Medical, Inc. has a 1 year low of $22.01 and a 1 year high of $101.00. The company’s 50 day moving average price is $89.05 and its 200-day moving average price is $65.48. The stock has a market cap of $3.36 billion, a P/E ratio of -46.66 and a beta of 0.83. The company has a quick ratio of 13.58, a current ratio of 14.90 and a debt-to-equity ratio of 0.07.
ShockWave Medical (NASDAQ:SWAV) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.38) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.55) by $0.17. ShockWave Medical had a negative net margin of 126.34% and a negative return on equity of 35.68%. The company had revenue of $19.60 million for the quarter, compared to the consensus estimate of $14.69 million. During the same period in the prior year, the firm posted ($0.46) EPS. ShockWave Medical’s revenue for the quarter was up 73.5% on a year-over-year basis. As a group, analysts anticipate that ShockWave Medical, Inc. will post -2.2 EPS for the current year.
A number of research analysts have issued reports on SWAV shares. Morgan Stanley boosted their price objective on shares of ShockWave Medical from $89.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America downgraded shares of ShockWave Medical from a “buy” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research report on Tuesday, December 1st. Piper Sandler upped their target price on shares of ShockWave Medical from $86.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 10th. Zacks Investment Research raised shares of ShockWave Medical from a “sell” rating to a “hold” rating in a research report on Thursday, November 12th. Finally, Canaccord Genuity upped their target price on shares of ShockWave Medical from $60.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $76.29.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its stake in ShockWave Medical by 24.5% during the 3rd quarter. US Bancorp DE now owns 666 shares of the company’s stock valued at $51,000 after acquiring an additional 131 shares during the period. Amalgamated Bank grew its holdings in shares of ShockWave Medical by 3.8% in the third quarter. Amalgamated Bank now owns 4,423 shares of the company’s stock valued at $335,000 after purchasing an additional 160 shares in the last quarter. Financial Advocates Investment Management lifted its position in ShockWave Medical by 2.1% in the third quarter. Financial Advocates Investment Management now owns 8,370 shares of the company’s stock worth $634,000 after buying an additional 175 shares during the last quarter. Paces Ferry Wealth Advisors LLC bought a new stake in ShockWave Medical in the third quarter worth $45,000. Finally, Cubist Systematic Strategies LLC lifted its position in ShockWave Medical by 19.9% in the third quarter. Cubist Systematic Strategies LLC now owns 3,832 shares of the company’s stock worth $290,000 after buying an additional 637 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
About ShockWave Medical
ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee peripheral artery disease.
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