On Jan. 04, Puckett Dan divested U.S. $204,700 in shares of ShockWave Medical Inc.. The CFO sold 2,000 shares at a price per share of $102.35. The transaction decreased this specific insider’s holdings to 37,308 shares worth around $4.3 million at present.
BofA Securities took its ShockWave Medical Inc. [SWAV] rating to the equivalent of a Neutral from a Buy, and the price target to $105, in a research note dated December 01, 2020. That figure represents around a -9.82% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with BofA Securities’s analysts downgrading the shares from “a Buy” rating to “a Neutral” rating in a research note to investors issued in early December. Meanwhile, Oppenheimer had raised its rating on SWAV to “Perform” from the earlier “an Underperform”, in a research note produced for clients June 11, 2020. In addition, there was a downgrade from Oppenheimer on April 01, 2020. The rater changed SWAV from “a Perform” to “an Underperform”.
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Is ShockWave Medical Inc. [NASDAQ:SWAV] a Good Buy Right Now?
It should be noted that SWAV technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 96% Buy in the past month. Data from ShockWave Medical Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.42 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.45 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.47 million shares.
SWAV Price Performance
On Wall Street, ShockWave Medical Inc. [NASDAQ:SWAV] finished Wednesday’s session up 3.71% at $115.31. The stock went up to $115.5071 at the same session while its lowest single day price was $109.08. In the last five days, it saw a rise of about 15.14%, ShockWave Medical Inc. shares gained by almost 11.17% since the beginning of the year. However, the share price has dropped to as low as 1.37% below its one year high. On 01/06/21, the company shares recorded $115.51, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $100.87. The company’s shares have inclined by 163.26% in the past year. The 50-day SMA achieved is $91.79 while the 200-day SMA is $61.46. Volume dropped to 0.62 million from 0.67 million in the previous session.
SWAV Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 111.09 level, and in case of violation of this particular level, it will cause more drop to 106.87 level. On the upper level, 119.73 is still the key resistance. The stock may increase to the subsequent resistance at 117.52. The Relative Strength Index (RSI) pinned on the 14-day chart is 75.43, implying an overbought technical stance while the MACD stands at 7.09, meaning price will increase in the next trading period. Percent R indicator moved to 0.96%, implying bullish price movement. Stochastic %K at 87.37% suggest selling the stock.
What is the short interest in ShockWave Medical Inc.?
Short interest in the ShockWave Medical Inc. stock has surged, increasing by 0.2 million shares to total 2.54 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.74 million, data from Yahoo Finance shows. The decrease of -7.87% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 13.82% of the overall float for the stock.
ShockWave Medical Inc.’s Biggest Shareholders: Who Owns ShockWave Medical Inc. [SWAV]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,007,179 shares or roughly 14.62% of the outstanding SWAV shares. This means their shares have increased by 31,892 from the 5,007,179 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, T. Rowe Price Associates, Inc. updated stake is worth $228,016,392. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 10.97% stake valued at $209,873,916 while BlackRock Fund Advisors added theirs at $195,536,636. During the last quarter, The Vanguard Group, Inc. raised 212,024 of its shares in ShockWave Medical Inc. while BlackRock Fund Advisors bought 611,281 shares. The Gilder, Gagnon, Howe & Co. LLC’s holdings currently number 1,882,729 shares at $217097480.99. According to the firm’s last 13F report, Wells Capital Management, Inc. shares in the company at filing stood at 1,331,677 shares, roughly $130,277,961.
SWAV Earnings Forecast For The Current Quarter
ShockWave Medical Inc. [SWAV] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $20.15M and an earnings per share of -$0.42 for Dec 2020. Looking further ahead, the company is expected to report revenue of $23.82M at an EPS of -$0.36 for Mar 2021. The estimates represent upside of 92.20% and 28.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SWAV Earnings Estimates For The Current Year
For the financial year, ShockWave Medical Inc. [NASDAQ:SWAV] is expected to bring in revenue of $65.48M. The returns are nearly $22.55 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.95, higher than that of FY19 by $0.19. Estimates put this year’s earnings growth at 8.90%, 28.70% for the next, and at an annual 77.70% over the next 5-year period. As for sales, forecasts are for an increase of 52.50% in the current fiscal year and a further 92.20% over the following year.
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What are analyst thoughts on ShockWave Medical Inc.?
Looking forward to the ShockWave Medical Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for ShockWave Medical Inc. stock at $103.00 within the next 12 months, which represents almost -11.95 per cent growth from its previous closing price of $115.31. The highest analysts’ target for ShockWave Medical Inc. stock projections is $106.00 and the lowest one is $87.00. Still, 6 analysts sharing their consensus rating for SWAV stock in 2021 agree that it is an Overweight.
