Analysts Set $37.67 Price Target for Shockwave Medical Inc (NASDAQ:SWAV)

Shares of Shockwave Medical Inc (NASDAQ:SWAV) have earned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.

Brokers have set a 12 month consensus price target of $37.67 for the company and are forecasting that the company will post ($0.52) EPS for the current quarter, according to Zacks. Zacks has also given Shockwave Medical an industry rank of 77 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research downgraded Shockwave Medical from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th.

Shares of Shockwave Medical stock opened at $32.26 on Wednesday. The business has a 50-day moving average of $33.20 and a 200-day moving average of $44.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 8.59 and a current ratio of 9.13. Shockwave Medical has a 1-year low of $24.58 and a 1-year high of $68.39.

Shockwave Medical (NASDAQ:SWAV) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.17. The firm had revenue of $10.00 million during the quarter, compared to analyst estimates of $8.29 million. The company’s revenue for the quarter was up 334.8% compared to the same quarter last year. As a group, analysts predict that Shockwave Medical will post -2.51 EPS for the current fiscal year.

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $32.68, for a total value of $130,720.00. Also, CFO Dan Puckett sold 75,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $34.71, for a total transaction of $2,603,250.00. Insiders sold 744,000 shares of company stock valued at $25,505,320 over the last quarter.

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $1,016,000. Advisory Services Network LLC bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $26,000. FMR LLC bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $117,477,000. Strs Ohio bought a new stake in shares of Shockwave Medical during the second quarter valued at approximately $102,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Shockwave Medical during the second quarter valued at approximately $422,000. 47.96% of the stock is currently owned by hedge funds and other institutional investors.

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.

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