Sanuwave Health (NASDAQ:SNWV) Upgraded to Buy at Wall Street Zen

Sanuwave Health (NASDAQ:SNWV) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts have also recently issued research reports about the company. Roth Capital set a $53.00 target price on Sanuwave Health and gave the company a “buy” rating in a research note on Tuesday, October 7th. Northland Capmk upgraded Sanuwave Health to a “strong-buy” rating in a report on Wednesday, September 3rd. Northland Securities started coverage on Sanuwave Health in a report on Wednesday, September 3rd. They set an “outperform” rating and a $55.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sanuwave Health in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Sanuwave Health Stock Performance

Sanuwave Health stock traded up $4.67 during mid-day trading on Friday, hitting $31.08. 217,429 shares of the company traded hands, compared to its average volume of 65,321. Sanuwave Health has a one year low of $18.50 and a one year high of $46.58. The stock has a market cap of $266.29 million, a price-to-earnings ratio of -3.77 and a beta of 1.22. The stock has a fifty day moving average price of $33.82 and a 200-day moving average price of $33.61.

Sanuwave Health (NASDAQ:SNWV) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.14. The company had revenue of $11.45 million during the quarter.

Hedge Funds Weigh In On Sanuwave Health

Several hedge funds have recently made changes to their positions in SNWV. Legal & General Group Plc purchased a new position in Sanuwave Health during the 2nd quarter valued at $26,000. BNP Paribas Financial Markets purchased a new stake in shares of Sanuwave Health in the 2nd quarter worth about $46,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Sanuwave Health during the 1st quarter valued at about $47,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Sanuwave Health during the 2nd quarter valued at about $52,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Sanuwave Health during the third quarter valued at about $57,000. 42.53% of the stock is owned by hedge funds and other institutional investors.

About Sanuwave Health

SANUWAVE Health, Inc, a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, and musculoskeletal and vascular structures.