The share price of ShockWave Medical Inc. (NASDAQ:SWAV) fell to $189.49 per share on Thursday from $191.36. While ShockWave Medical Inc. has underperformed by -0.98%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SWAV rose by 22.23%, with highs and lows ranging from $320.54 to $113.36, whereas the simple moving average fell by -15.93% in the last 200 days.
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On December 16, 2022, Deutsche Bank started tracking ShockWave Medical Inc. (NASDAQ: SWAV) recommending Buy. A report published by Wells Fargo on December 12, 2022, Downgraded its rating to ‘Equal Weight’ for SWAV. Oppenheimer also Downgraded SWAV shares as ‘Underperform’, setting a target price of $165 on the company’s shares in a report dated September 06, 2022. Wolfe Research Initiated an Outperform rating on April 06, 2022, and assigned a price target of $255. BofA Securities initiated its ‘Buy’ rating for SWAV, as published in its report on March 02, 2022. Wells Fargo’s report from December 06, 2021 suggests a price prediction of $235 for SWAV shares, giving the stock a ‘Overweight’ rating. SVB Leerink also rated the stock as ‘Outperform’.
Analysis of ShockWave Medical Inc. (SWAV)
Further, the quarter-over-quarter increase in sales is 101.40%, showing a positive trend in the upcoming months.
To gain a thorough understanding of ShockWave Medical Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 30.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SWAV is recording an average volume of 460.86K. On a monthly basis, the volatility of the stock is set at 5.02%, whereas on a weekly basis, it is put at 4.08%, with a loss of -2.65% over the past seven days. Furthermore, long-term investors anticipate a median target price of $243.25, showing growth from the present price of $189.49, which can serve as yet another indication of whether SWAV is worth investing in or should be passed over.
How Do You Analyze ShockWave Medical Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 92.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SWAV shares?
The recent increase in stakes in SWAV appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in SWAV has decreased by -0.45% in the first quarter. The company now owns 3,765,494 shares of the stock, with a value of $774.22 million, following the sale of -16,974 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in SWAV during the first quarter, upping its stake by 0.33%. During the last quarter, the company picked up 11,308 additional shares for a total stake of worth $706.71 million, bringing number of shares owned by the company to 3,437,130.
During the first quarter, Fidelity Management & Research Co added a 20,261 position in SWAV. T. Rowe Price Associates, Inc. sold an additional -1.42 million shares in the last quarter, decreasing its holdings by -44.10%, now holding 1.8 million shares worth $369.49 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its SWAV holdings by 2.80% and now holds 1.16 million SWAV shares valued at $237.95 million with the added 31575.0 shares during the period. SWAV shares are owned by institutional investors to the tune of 92.60% at present.
