- IBD50 Winner ShockWave Medical (SWAV) has gained nearly 30% in the past 4 weeks.
- Strong revenue growth, high growth prospects, and an attractive valuation.
- We are waiting for a breakout of the cup and handle pattern to add shares or start new positions.
- ShockWave Medical stock has gained a massive 570% share price growth since its IPO in 2019.
- The company offers the best-in-class method of cracking calcium in arteries.
- The total market is a whopping $8.5 billion and projected revenue for 2022 is only $487 million.
- Earnings in the third quarter were strong, as the company’s revenue increased 102% year over year.
- ShockWave Medical gross margin is 86% and highly profitable.
- More on Seeking Alpha
Boston Scientific (BSX) is considering a takeover of Shockwave Medical (SWAV), according to a report in late April that sent SWAV stock soaring. More at Investors Business Daily
The potential deal — first reported by Bloomberg — could bolster Boston Scientific’s cardiovascular portfolio, Needham analyst Mike Matson said in a note to clients. The total available market for intravascular lithotripsy is worth about $8.5 billion. That implies the market was just 6% penetrated last year.
“We think that Shockwave would be highly complementary to Boston Scientific’s cardiovascular business, would likely generate both cost and revenue synergies and would add almost a point to Boston Scientific’s organic growth,” Matson said.
Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Considering joining us as a member? Check details here
Make your stock research more efficient. Get all the tools you need to find stocks, research their potential, and decide when to buy.
With Leaderboard, IBD’s experts give you a model portfolio of the best 10-15 stocks to buy, plus full trading plans for each pick.
Technical Analysis Resources
Investors Business Daily