Shockwave Medical Inc (NASDAQ:SWAV) has been assigned an average broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation.

Analysts have set a twelve-month consensus price target of $45.67 for the company and are anticipating that the company will post ($0.52) EPS for the current quarter, according to Zacks. Zacks has also assigned Shockwave Medical an industry rank of 83 out of 256 based on the ratings given to its competitors.

A number of equities research analysts have weighed in on SWAV shares. Zacks Investment Research lowered Shockwave Medical from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Canaccord Genuity lifted their price objective on Shockwave Medical from $50.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, June 18th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $44.00 price objective on shares of Shockwave Medical in a report on Thursday, June 13th.

A number of institutional investors and hedge funds have recently made changes to their positions in SWAV. FMR LLC purchased a new stake in Shockwave Medical in the 1st quarter valued at approximately $117,477,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Shockwave Medical in the 1st quarter valued at approximately $44,601,000. Vanguard Group Inc. boosted its holdings in Shockwave Medical by 1,232.2% in the 2nd quarter. Vanguard Group Inc. now owns 666,096 shares of the company’s stock valued at $38,028,000 after purchasing an additional 616,096 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Shockwave Medical in the 1st quarter valued at approximately $11,072,000. Finally, BlackRock Inc. purchased a new stake in Shockwave Medical in the 2nd quarter valued at approximately $18,115,000. 48.55% of the stock is currently owned by institutional investors.

Shares of NASDAQ SWAV traded down $1.52 during midday trading on Monday, reaching $41.05. 198,240 shares of the company were exchanged, compared to its average volume of 395,649. The company has a quick ratio of 8.59, a current ratio of 9.13 and a debt-to-equity ratio of 0.10. Shockwave Medical has a 1 year low of $24.58 and a 1 year high of $68.39. The company’s fifty day moving average is $48.22.

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

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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