Zacks: Shockwave Medical Inc (SWAV) Given $39.00 Average Target Price by Brokerages

Shares of Shockwave Medical Inc (NASDAQ:SWAV) have been given a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.

Brokerages have set a 1 year consensus price objective of $39.00 for the company and are expecting that the company will post ($0.55) earnings per share for the current quarter, according to Zacks. Zacks has also given Shockwave Medical an industry rank of 151 out of 256 based on the ratings given to related companies.

Several equities research analysts have recently weighed in on the company. Wells Fargo & Co assumed coverage on Shockwave Medical in a research note on Monday, April 1st. They set a “market perform” rating and a $33.00 price objective for the company. Bank of America assumed coverage on Shockwave Medical in a research note on Monday, April 1st. They set a “neutral” rating and a $37.00 price objective for the company. Finally, Morgan Stanley assumed coverage on Shockwave Medical in a research note on Monday, April 1st. They set an “equal weight” rating and a $32.00 price objective for the company.

Shares of NASDAQ SWAV opened at $60.58 on Friday. Shockwave Medical has a 1 year low of $24.58 and a 1 year high of $62.67.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.85). The business had revenue of $7.27 million during the quarter. Research analysts predict that Shockwave Medical will post -2.74 earnings per share for the current fiscal year.

In related news, insider James E. Flynn acquired 30,000 shares of Shockwave Medical stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $17.00 per share, with a total value of $510,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Shockwave Medical during the first quarter worth $11,072,000. Wells Fargo & Company MN acquired a new position in Shockwave Medical during the first quarter worth $3,060,000. Laurion Capital Management LP acquired a new position in Shockwave Medical during the first quarter worth $669,000. Dean Capital Investments Management LLC acquired a new position in Shockwave Medical during the first quarter worth $658,000. Finally, Stephens Inc. AR acquired a new position in Shockwave Medical during the first quarter worth $382,000. Institutional investors own 1.40% 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 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.

See Also: Intrinsic Value

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