Shockwave Medical Inc (NASDAQ:SWAV)’s share price fell 5.3% during trading on Friday after Canaccord Genuity lowered their price target on the stock from $65.00 to $49.00. Canaccord Genuity currently has a buy rating on the stock. Shockwave Medical traded as low as $33.67 and last traded at $34.06, 1,188,411 shares changed hands during mid-day trading. An increase of 183% from the average session volume of 420,649 shares. The stock had previously closed at $35.97.

Several other equities analysts have also recently issued reports on SWAV. Piper Jaffray Companies boosted their target price on Shockwave Medical from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer assumed coverage on Shockwave Medical in a research note on Tuesday, October 22nd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $40.80.

In other Shockwave Medical news, CFO Dan Puckett sold 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $34.71, for a total value of $2,603,250.00. Also, Director Antoine Papiernik sold 650,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $34.35, for a total value of $22,327,500.00. Over the last ninety days, insiders sold 744,000 shares of company stock worth $25,505,320.

Institutional investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC bought a new stake in Shockwave Medical in the third quarter worth $30,000. Salomon & Ludwin LLC bought a new position in shares of Shockwave Medical during the second quarter valued at $43,000. Advisor Group Inc. bought a new position in shares of Shockwave Medical during the second quarter valued at $56,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Shockwave Medical by 244.0% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,875 shares of the company’s stock valued at $56,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Shockwave Medical by 1,350.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,450 shares of the company’s stock valued at $83,000 after purchasing an additional 1,350 shares in the last quarter. 48.13% of the stock is currently owned by institutional investors and hedge funds.

The company has a current ratio of 9.13, a quick ratio of 8.59 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average price of $32.23 and a 200-day moving average price of $44.69.

Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Thursday, November 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.05. The business had revenue of $11.33 million for the quarter, compared to analysts’ expectations of $10.42 million. The company’s quarterly revenue was up 214.7% compared to the same quarter last year. On average, analysts predict that Shockwave Medical Inc will post -2.51 EPS for the current year.

About Shockwave Medical (NASDAQ:SWAV)

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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