Shockwave Medical Inc. [NASDAQ: SWAV] gained 1.98% or 6.35 points to close at $326.34 with a heavy trading volume of 12421400 shares. The company report on April 5, 2024 at 6:31 AM that Johnson & Johnson to Acquire Shockwave Medical.
Enhances Johnson & Johnson’s Ability to Transform the Treatment Landscape for Cardiovascular Disease and Continue to Improve Patient Outcomes.
Extends Johnson & Johnson MedTech’s Position in Highest-Growth, Innovation-Oriented Segments of Cardiovascular Intervention.
The daily chart for SWAV points out that the company has recorded 67.95% gains over the past six months.
If we look at the average trading volume of 596.62K shares, SWAV reached to a volume of 12421400 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $288.71 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 2.92. 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.
Wolfe Research have made an estimate for Shockwave Medical Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on April 05, 2024. While these analysts kept the previous recommendation, CL King raised their target price to Buy. The new note on the price target was released on March 27, 2024, representing the official price target for Shockwave Medical Inc. stock. Previously, the target price had yet another raise to $218, while UBS analysts kept a Neutral rating on SWAV stock. On July 10, 2023, analysts increased their price target for SWAV shares from 291 to 335.
The Average True Range (ATR) for Shockwave Medical Inc. is set at 10.07, with the Price to Sales ratio for SWAV stock in the period of the last 12 months amounting to 16.71. The Price to Book ratio for the last quarter was 18.05, with the Price to Cash per share for the same quarter was set at 26.49. Price to Free Cash Flow for SWAV in the course of the last twelve months was 73.76 with Quick ratio for the last quarter at 10.73.
Trading performance analysis for SWAV stock
Shockwave Medical Inc. [SWAV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.22. With this latest performance, SWAV shares gained by 28.10% in over the last four-week period, additionally plugging by 67.95% over the last 6 months – not to mention a rise of 43.96% 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 78.56, with the RSI for the last a single of trading hit 80.84, and the three-weeks RSI is set at 76.41 for Shockwave Medical Inc. [SWAV]. The present Moving Average for the last 50 days of trading for this stock 264.06, while it was recorded at 321.50 for the last single week of trading, and 228.53 for the last 200 days.
Shockwave Medical Inc. [SWAV]: A deeper dive into fundamental analysis
Shockwave Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.73 and a Current Ratio set at 11.76.
Shockwave Medical Inc. [SWAV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Shockwave Medical Inc. posted 1.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.81/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.20%. 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 1.30%.
An analysis of Institutional ownership at Shockwave Medical Inc. [SWAV]
The top three institutional holders of SWAV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SWAV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SWAV stock with ownership which is approximately 5.8386%.
