Shares of Shockwave Medical rose to $320.34 during today's afternoon trading session. Despite the 11.5% change, the Large-Cap Medical Instruments & Supplies company still trades 22.86% above its average analyst target price of $260.73. So there may be further downside for the Medical Instruments & Supplies stock. Shockwave Medical has target prices ranging from $165.0 to $310.0 per share, and its average rating is buy.
The stock has an average amount of shares sold short at 5.9%, and a short ratio of 3.23. The company's insiders own 1.29% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 95.9% of Shockwave Medical's shares being owned by this investor type.
Institutions Invested in Shockwave Medical
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Blackrock Inc. | 10% | 3,722,157 | $1,192,355,759 |
| 2023-12-31 | Vanguard Group Inc | 10% | 3,633,720 | $1,164,025,851 |
| 2023-12-31 | Wellington Management Group, LLP | 7% | 2,470,419 | $791,374,013 |
| 2023-12-31 | FMR, LLC | 5% | 2,000,216 | $640,749,186 |
| 2023-12-31 | Artisan Partners Limited Partnership | 4% | 1,495,492 | $479,065,901 |
| 2023-12-31 | JP Morgan Chase & Company | 3% | 1,098,494 | $351,891,563 |
| 2023-12-31 | State Street Corporation | 3% | 1,064,206 | $340,907,746 |
| 2023-12-31 | Citadel Advisors Llc | 2% | 890,420 | $285,237,139 |
| 2023-12-31 | Price (T.Rowe) Associates Inc | 2% | 784,969 | $251,456,966 |
| 2023-12-31 | Allspring Global Investments Holdings, LLC | 2% | 619,108 | $198,325,054 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Shockwave Medical.
