Wells Fargo & Co upgraded shares of Shockwave Medical (NASDAQ:SWAV) from a market perform rating to an overweight rating in a report issued on Thursday, BenzingaRatingsTable reports. They currently have $49.00 price objective on the stock.

A number of other research firms also recently weighed in on SWAV. Canaccord Genuity cut their price target on shares of Shockwave Medical from $65.00 to $49.00 and set a buy rating on the stock in a report on Friday, November 8th. Oppenheimer began coverage on shares of Shockwave Medical in a report on Tuesday, October 22nd. They issued a market perform rating for the company. Piper Jaffray Companies increased their target price on shares of Shockwave Medical from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, ValuEngine lowered Shockwave Medical from a buy rating to a hold rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Shockwave Medical has a consensus rating of Hold and an average price target of $44.00.

SWAV traded up $0.52 during midday trading on Thursday, hitting $44.52. 465,643 shares of the company’s stock traded hands, compared to its average volume of 642,104. The stock’s fifty day simple moving average is $36.92 and its 200-day simple moving average is $42.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.76 and a quick ratio of 6.28. Shockwave Medical has a one year low of $24.58 and a one year high of $68.39.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Thursday, November 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.05. The business had revenue of $11.33 million during the quarter, compared to analyst estimates of $10.42 million. The company’s revenue was up 214.7% compared to the same quarter last year. As a group, research analysts expect that Shockwave Medical will post -2.03 EPS for the current fiscal year.

In other news, CEO Douglas Evan Godshall sold 30,000 shares of Shockwave Medical stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $37.42, for a total value of $1,122,600.00. Following the transaction, the chief executive officer now owns 46,000 shares of the company’s stock, valued at $1,721,320. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $40.24, for a total transaction of $160,960.00. Following the completion of the transaction, the insider now directly owns 9,000 shares in the company, valued at approximately $362,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,000 shares of company stock valued at $2,000,770.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Shockwave Medical by 1,232.2% during the 2nd quarter. Vanguard Group Inc. now owns 666,096 shares of the company’s stock worth $38,028,000 after acquiring an additional 616,096 shares during the last quarter. BlackRock Inc. bought a new stake in Shockwave Medical in the 2nd quarter valued at $18,115,000. Gilder Gagnon Howe & Co. LLC boosted its holdings in Shockwave Medical by 15.9% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,676,916 shares of the company’s stock valued at $50,190,000 after purchasing an additional 229,515 shares during the period. Jennison Associates LLC bought a new stake in Shockwave Medical in the 2nd quarter valued at $11,323,000. Finally, Price T Rowe Associates Inc. MD grew its position in Shockwave Medical by 8.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,057,775 shares of the company’s stock worth $114,072,000 after purchasing an additional 162,999 shares during the last quarter. Institutional investors and hedge funds own 58.43% of the company’s stock.

Shockwave Medical Company Profile

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 worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.

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Analyst Recommendations for Shockwave Medical (NASDAQ:SWAV)

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