Shockwave Medical (NASDAQ:SWAV) Issues Quarterly Earnings Results

Shockwave Medical (NASDAQ:SWAV) released its earnings results on Thursday. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.05, Briefing.com reports. The business had revenue of $11.33 million for the quarter, compared to the consensus estimate of $10.42 million. The firm’s revenue for the quarter was up 214.7% compared to the same quarter last year.

Shares of SWAV traded down $1.91 during mid-day trading on Friday, reaching $34.06. 1,188,400 shares of the company’s stock traded hands, compared to its average volume of 420,649. Shockwave Medical has a 12 month low of $24.58 and a 12 month high of $68.39. The stock’s 50-day moving average is $32.23 and its two-hundred day moving average is $44.69. The company has a current ratio of 9.13, a quick ratio of 8.59 and a debt-to-equity ratio of 0.10.

In related news, Director Antoine Papiernik sold 650,000 shares of the firm’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. Also, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $32.68, for a total value of $130,720.00. In the last quarter, insiders have sold 744,000 shares of company stock valued at $25,505,320.

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SWAV has been the topic of a number of analyst reports. Morgan Stanley upped their target price on Shockwave Medical from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday. Piper Jaffray Companies upped 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 initiated coverage on Shockwave Medical in a research note on Tuesday, October 22nd. They set a “market perform” rating on the stock. Finally, Canaccord Genuity cut their target price on Shockwave Medical from $65.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Shockwave Medical has an average rating of “Hold” and an average price target of $40.80.

Shockwave Medical Company Profile

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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