Saturday, June 25, 2022

A company insider recently sold 3,000 shares of ShockWave Medical Inc. [SWAV]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ShockWave Medical Inc. shares valued at $484,289 were sold by WATKINS FRANK T on Jun 21. At $161.43 per share, WATKINS FRANK T sold 3,000 shares. The insider’s holdings dropped to 17,802 shares worth approximately $3.16 million following the completion of this transaction.

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Also, PUCKETT DAN sold 1,350 shares, netting a total of over 217,890 in proceeds. Following the sale of shares at $161.40 each, the insider now holds 39,938 shares.

Before that, Godshall Douglas Evan had sold 7,400 shares from its account. In a trade valued at $1,312,181, the President & CEO traded ShockWave Medical Inc. shares for $177.32 each. Upon closing the transaction, the insider’s holdings decreased to 7,400 shares, worth approximately $25.34 million.

As published in their initiating research note from Wolfe Research on April 06, 2022, ShockWave Medical Inc. [SWAV] has been an Outperform and the price target has been revised to $255. This represents a 30.46% premium over Wednesday’s closing price. As of December 06, 2021, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for SWAV. Earlier on July 15, 2021, SVB Leerink initiated its rating. Their recommendation was “an Outperform” for SWAV stock.

Analyzing SWAV’s Price Performance

On Wednesday, ShockWave Medical Inc. [NASDAQ: SWAV] rose 5.52% to $177.32. The stock’s lowest price that day was $165.31, but it reached a high of $179.86 in the same session. During the last five days, there has been a surge of approximately 8.18%. Over the course of the year, ShockWave Medical Inc. shares have dropped approximately -0.57%. Shares of the company reached a 52-week high of $223.15 on 04/12/22 and a 52-week low of $113.36 on 05/09/22. A 50-day SMA is recorded $170.41, while a 200-day SMA reached $182.92. Nevertheless, trading volume fell to 0.48 million shares from 0.54 million shares the previous day.

Support And Resistance Levels for ShockWave Medical Inc. (SWAV)

According to the 24-hour chart, there is a support level at 168.47, which, if violated, would cause prices to drop to 159.61. In the upper region, resistance lies at 183.02. The next price resistance is at 188.71. RSI (Relative Strength Index) is 53.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.33, which suggests the price will decrease in the coming days. Percent R is at 42.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of ShockWave Medical Inc. (SWAV)?

According to The Vanguard Group, Inc. filings, the company currently owns 3,222,632 shares, which is about 9.00% of the total SWAV shares outstanding. The investor’s shares have appreciated by 72,328 from its previous 13-F filing of 3150304.0 shares. With the completion of the sale, Fidelity Management & Research Co’s stake is now worth $474,750,815. T. Rowe Price Associates, Inc. reduced a -15.93% interest valued at $424.81 million while BlackRock Fund Advisors sold a -14,679 stake. A total of 126,880 shares of ShockWave Medical Inc. were sold by Invesco Advisers, Inc. during the quarter, and -223,199 were sold by Gilder, Gagnon, Howe & Co. LLC. In its current portfolio, Macquarie Investment Management B holds 883,920 shares valued at $145.15 million.

In terms of ShockWave Medical Inc. share price expectations, FactSet research, analysts set an average price target of $192.20 in the next 12 months, up nearly 7.12% from the previous closing price of $168.04. Analysts anticipate ShockWave Medical Inc. stock to reach $245.00 by 2022, with the lowest price target being $170.00. In spite of this, 6 analysts ranked ShockWave Medical Inc. stock as a Buy at the end of 2022. On July 12, 2021, BofA Securities assigned a price target of “a Neutral” to the stock and downgraded coverage with a $200.

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