Piper Sandler slashes price target on ShockWave Medical Inc. [SWAV] – find out why.

ShockWave Medical Inc. [NASDAQ: SWAV] price plunged by -6.52 percent to reach at -$6.87. The company report on February 18, 2021 that Shockwave Medical Reports Fourth Quarter and Full Year 2020 Financial Results.

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Shockwave Medical, Inc. (Nasdaq: SWAV), a pioneer in the development and commercialization of Intravascular Lithotripsy (IVL) to treat complex calcified cardiovascular disease, reported financial results for the three months and full year ended December 31, 2020.

Recent Highlights.

A sum of 1046033 shares traded at recent session while its average daily volume was at 420.20K shares. ShockWave Medical Inc. shares reached a high of $106.75 and dropped to a low of $92.09 until finishing in the latest session at $98.42.

The one-year SWAV stock forecast points to a potential upside of 29.3. The average equity rating for SWAV stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on ShockWave Medical Inc. [SWAV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SWAV shares is $139.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SWAV stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for ShockWave Medical Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 20, 2021. The new note on the price target was released on December 01, 2020, representing the official price target for ShockWave Medical Inc. stock.

The Average True Range (ATR) for ShockWave Medical Inc. is set at 8.47, with the Price to Sales ratio for SWAV stock in the period of the last 12 months amounting to 54.10. The Price to Book ratio for the last quarter was 15.03, with the Price to Cash per share for the same quarter was set at 5.43.

SWAV Stock Performance Analysis:

ShockWave Medical Inc. [SWAV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.71. With this latest performance, SWAV shares dropped by -17.31% in over the last four-week period, additionally plugging by 49.05% over the last 6 months – not to mention a rise of 147.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SWAV stock in for the last two-week period is set at 31.96, with the RSI for the last a single of trading hit 25.46, and the three-weeks RSI is set at 37.09 for ShockWave Medical Inc. [SWAV]. The present Moving Average for the last 50 days of trading for this stock 120.19, while it was recorded at 111.55 for the last single week of trading, and 78.93 for the last 200 days.

Insight into ShockWave Medical Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ShockWave Medical Inc. [SWAV] shares currently have an operating margin of -96.86 and a Gross Margin at +69.03. ShockWave Medical Inc.’s Net Margin is presently recorded at -96.92.

Return on Total Capital for SWAV is now -28.18, given the latest momentum, and Return on Invested Capital for the company is -28.92. Return on Equity for this stock declined to -31.41, with Return on Assets sitting at -26.07. When it comes to the capital structure of this company, ShockWave Medical Inc. [SWAV] has a Total Debt to Total Equity ratio set at 11.07. Additionally, SWAV Total Debt to Total Capital is recorded at 9.97, with Total Debt to Total Assets ending up at 9.18. Long-Term Debt to Equity for the company is recorded at 9.22, with the Long-Term Debt to Total Capital now at 8.30.

Reflecting on the efficiency of the workforce at the company, ShockWave Medical Inc. [SWAV] managed to generate an average of -$146,323 per employee. Receivables Turnover for the company is 7.11 with a Total Asset Turnover recorded at a value of 0.27.ShockWave Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.50 and a Current Ratio set at 9.60.

SWAV Stock EPS

With the latest financial reports released by the company, ShockWave Medical Inc. posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.49/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -20.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SWAV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ShockWave Medical Inc. go to 77.70%.

ShockWave Medical Inc. [SWAV] Insider Position Details

There are presently around $3,136 million, or 99.75% of SWAV stock, in the hands of institutional investors. The top three institutional holders of SWAV stocks are: FMR LLC with ownership of 5,138,948, which is approximately 0.755% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 2,792,889 shares of the stock with an approximate value of $274.88 million in SWAV stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $244.16 million in SWAV stock with ownership of nearly 6.437% of the company’s market capitalization.

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Positions in ShockWave Medical Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 150 institutional holders increased their position in ShockWave Medical Inc. [NASDAQ:SWAV] by around 4,698,505 shares. Additionally, 51 investors decreased positions by around 3,270,266 shares, while 30 investors held positions by with 23,894,711 shares. The mentioned changes placed institutional holdings at 31,863,482 shares, according to the latest SEC report filing. SWAV stock had 72 new institutional investments in for a total of 1,620,694 shares, while 10 institutional investors sold positions of 2,476,717 shares during the same period.

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