ShockWave Medical Inc (NASDAQ: SWAV) stock jumped 1.67% on Monday to $175.01 against a previous-day closing price of $172.13. With 0.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.63 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $175.94 whereas the lowest price it dropped to was $171.60. The 52-week range on SWAV shows that it touched its highest point at $315.95 and its lowest point at $157.00 during that stretch. It currently has a 1-year price target of $241.64. Beta for the stock currently stands at 0.89.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SWAV was up-trending over the past week, with a rise of 5.17%, but this was down by -12.52% over a month. Three-month performance dropped to -20.73% while six-month performance fell -38.08%. The stock lost -29.43% in the past year, while it has lost -14.88% so far this year. A look at the trailing 12-month EPS for SWAV yields 6.41 with Next year EPS estimates of 4.47. For the next quarter, that number is 0.89. This implies an EPS growth rate of -36.98% for this year and 24.44% for next year.
Float and Shares Shorts:
At present, 36.90 million SWAV shares are outstanding with a float of 36.27 million shares on hand for trading. On Oct 30, 2023, short shares totaled 1.62 million, which was 4.38% higher than short shares on Sep 28, 2023. In addition to Mr. Douglas E. Godshall M.B.A. as the firm’s President, CEO & Director, Mr. Daniel K. Puckett MBA serves as its CFO, Principal Financial Officer & Secretary.
Institutional Ownership:
Through their ownership of 93.29% of SWAV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.26% of SWAV, in contrast to 38.09% held by mutual funds. Shares owned by individuals account for 1.48%. As the largest shareholder in SWAV with 9.65% of the stake, The Vanguard Group, Inc. holds 3,545,533 shares worth 3,545,533. A second-largest stockholder of SWAV, BlackRock Fund Advisors, holds 3,278,734 shares, controlling over 8.92% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in SWAV, holding 2,441,176 shares or 6.64% stake. With a 3.13% stake in SWAV, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,148,856 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.09% of SWAV stock, is the second-largest Mutual Fund holder. It holds 1,134,911 shares valued at 234.09 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in SWAV, owning 947,830 shares worth 195.5 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SWAV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SWAV analysts setting a high price target of $284.00 and a low target of $165.00, the average target price over the next 12 months is $241.64. Based on these targets, SWAV could surge 62.28% to reach the target high and fall by -5.72% to reach the target low. Reaching the average price target will result in a growth of 38.07% from current levels.
Summary of Insider Activity:
Insiders traded SWAV stock several times over the past three months with 6 Buys and 29 Sells. In these transactions, 31,411 shares were bought while 60,988 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 118 over the past year. The total number of shares bought during that period was 140,108 while 225,632 shares were sold.
