According to Benzinga, investment analysts at Morgan Stanley lowered their price objective for ShockWave Medical (NASDAQ: SWAV) in a letter given to investors on Friday. The new price objective is $224.00, which is lower than the previous price objective of $290.00. The brokerage firm consulted has determined that the stock should be categorized as “equal weight.” According to the price objective that Morgan Stanley established, there is the potential for the price of the stock to rise by 7.21 percent from where it is currently trading.
There have been publications written about the stock in question by several other equity research analysts as well. Wells Fargo & Company downgraded ShockWave Medical from “overweight” to “equal weight” on Monday, December 12, and the company also decreased its price objective from $300 to $235. The news that Deutsche Bank Aktiengesellschaft would begin following the stock of ShockWave Medical was disclosed in a report that was made public on December 16, the same day the announcement was made. They suggested investing in the company by purchasing shares, establishing a price objective of $285.00 per share. The price target that Bank of America has assigned to purchase ShockWave Medical stock has increased from $260.00 to $310.00, as stated in a report that was made public on November 7. This was the company’s final action, but by no means its the least important one. One equity research analyst has suggested selling the stock; two analysts have stated that they will keep their current position on the stock; and six analysts have indicated that they would buy the stock if it were on the market. Bloomberg reports that the company is currently rated as having a “Moderate Buy” average and that the consensus price objective for the company is $250.89.
On Friday, the price of one share of NASDAQ: SWAV rose by $4.04 to settle at $208.93. Only 1,938 of these stocks were traded, which is significantly lower than the typical volume of 429,738 shares. 7.29 is the value of the current ratio, 6.02 is the value of the quick ratio, and 0 represents the value of the debt-to-equity ratio. The ratio of debt to equity is currently at 0. The moving average of the company’s stock price over the past 200 days is $247.52, and the moving average over the last 50 days is $239.55. The stock is trading at a price corresponding to a price-to-earnings ratio of 89.67, and the company’s beta value is 1.04. The value of the company’s shares on the market is approximately $7.55 billion. The current price of ShockWave Medical is $320.54, which is higher than the one-year high of $113.36 but lower than the one-year low of $320.54.
The most recent earnings report for ShockWave Medical, traded under the ticker symbol SWAV on the NASDAQ, was released on November 7. Earnings for the quarter were $0.92 per share for the company, which was $0.24 more than the average estimate of $0.68 per share that analysts made. Even though market watchers predicted that the company would bring in sales totaling $125.85 million during the quarter, it brought in sales totaling $131.33 million instead. ShockWave Medical had a return on equity of 30.08 percent, and its net margin was 20.48%. Both of these figures are percentages of their total revenue. ShockWave Medical is expected to generate earnings of $2.93 per share in 2018, according to forecasts provided by industry professionals who specialize in research.
On October 26, Isaac Zacharias, an executive for the company, put 4,000 of his company’s shares up for sale. This transaction was completed, as indicated by related news. There were a total of 1,169,760.00 worth of shares that changed hands in the market, and the average price per share was $292.44. As a direct consequence of the successful completion of the transaction, the insider now directly owns 73,021 shares of the company. The current market value of these shares is approximately $21,354,261.24. You can find a copy of the filing that disclosed the transaction on the Securities and Exchange Commission (SEC) website. The filing described the transaction. The Chief Financial Officer of ShockWave Medical, Dan Puckett, sold 1,100 shares of the company’s stock on October 20. This is relevant information regarding ShockWave Medical. The shares were sold for $295,185.00 and bought back at an average price of $268.35 per share.
Following the successful conclusion of the sale, the chief financial officer now has direct control over 39,938 of the company’s shares. At the market price they are trading at right now, these shares have a value of approximately $10,717,362.30. If you follow this link, you will be taken to a document submitted to the Securities and Exchange Commission (SEC). The document contains an in-depth explanation of the reported transaction to the SEC. Isaac Zacharias, an insider at ShockWave Medical, also parted ways with 4,000 shares on Wednesday, October 26. There were a total of 1,169,760.00 worth of shares that changed hands in the market, and the average price per share was $292.44. The company insider now holds direct ownership of the company’s shares, each of which is estimated to have a value of $21,354,261.24 in today’s market. Disclosures that are related to the sale might be found in this section of the website. Insiders hold 3.90% of the company’s stock, and over the past ninety days, they have sold 51,300 shares for a total value of $12,615,504.
Recently, several institutional investors have modified the processes by which they invest their money in the company in various ways. Fifth Third Bancorp increased its ownership stake in ShockWave Medical by 53.33% during the third quarter by purchasing an additional 1.8% of its shares. The recent purchase of 37 additional shares of the company’s stock by Fifth Third Bancorp brings the total number of shares it owns to 2,121, with a market value of $590.000. Profund Advisors LLC increased its total ownership percentage in ShockWave Medical to 19.1% during the third quarter by purchasing an additional 1.9% of its shares. After purchasing 45 shares of the company’s stock during the period in question, Profund Advisors LLC now possesses 2,386 shares of the corporation’s stock. The current market value of these shares is $663,000. Signaturefd LLC successfully increased its holdings in ShockWave Medical by 14.2% over the third quarter of the fiscal year. Signaturefd LLC is now the owner of 362 shares of the company’s stock, valued at $101,000, following purchasing of an additional 45 shares during the period in question. During the fourth quarter, Fulton Bank and National Association increased the percentage of ShockWave Medical that it owns in its portfolio by 5.7%. Following acquiring an additional 55 shares during the most recent period, Fulton Bank N.A. now holds 1,020 shares of the company’s stock. Based on the current stock price, this gives the institution a market value of $209,000. And finally, during the second quarter, Parallel Advisors LLC added 6.6% more ShockWave Medical stock to its holdings, bringing the total amount of stock it possessed to 98.4%. During the period, Parallel Advisors LLC increased its company stock holdings by purchasing an additional 58 shares. This brought their total company stock holdings to 938 shares, which have a market value of $179,000. The majority of the shares in the company are owned by institutional investors and hedge funds, which account for 90.56% of the total.
ShockWave Medical, Inc. develops and markets technology for intravascular lithotripsy to treat calcified plaque in patients all over the world with peripheral vascular, coronary vascular, or heart valve conditions. Catheters with the designation M5 are utilized in treating peripheral artery disease (PAD) above the knee, catheters with the designation C2 are utilized in treating coronary artery disease, and catheters with the designation S4 are utilized in the treatment of PAD below the knee.
Read More: Morgan Stanley has raised its price target on ShockWave Medical (NASDAQ:SWAV) to $224.00.