Shockwave Medical (NASDAQ:SWAV) Lowered to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Shockwave Medical (NASDAQ:SWAV) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “ShockWave Medical, Inc. is a medical device company. It is focused on developing and commercializing products for medical device treatment of atherosclerotic cardiovascular disease. ShockWave Medical, Inc. is based in Santa Clara, United States. “

SWAV has been the topic of a number of other reports. Bank of America set a $10.00 price target on shares of HEXO and gave the company a buy rating in a research report on Thursday, June 13th. Canaccord Genuity boosted their price target on shares of Shockwave Medical from $50.00 to $65.00 and gave the company a positive rating in a research report on Tuesday, June 18th. Morgan Stanley restated an equal weight rating on shares of KINGFISHER PLC/SH in a research report on Monday, April 1st. Finally, Wells Fargo & Co boosted their price target on shares of Stryker from $214.00 to $219.00 and gave the company an outperform rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $43.50.

NASDAQ:SWAV opened at $50.80 on Tuesday. Shockwave Medical has a 12 month low of $24.58 and a 12 month high of $68.39. The company has a current ratio of 10.37, a quick ratio of 9.89 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $57.67.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.85). The business had revenue of $7.27 million for the quarter. Research analysts predict that Shockwave Medical will post -2.74 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in SWAV. Capital Investment Advisory Services LLC acquired a new stake in shares of Shockwave Medical during the 1st quarter worth $105,000. Pier Capital LLC acquired a new stake in shares of Shockwave Medical during the 1st quarter worth $335,000. Stephens Inc. AR acquired a new stake in shares of Shockwave Medical during the 1st quarter worth $382,000. Dean Capital Investments Management LLC acquired a new stake in shares of Shockwave Medical during the 1st quarter worth $658,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Shockwave Medical during the 1st quarter worth $11,072,000. 45.60% of the stock is owned by institutional investors.

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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