5 Most Promising Medical Stocks According to Analysts

2. ShockWave Medical, Inc. (NASDAQ:SWAV)

Number of Hedge Fund Holders: 34

One-Year Price Target: $243.25

Cardiovascular medical device company ShockWave Medical, Inc. (NASDAQ:SWAV) ranks 2nd in our list of the 12 most promising medical stocks according to analysts. In January, BofA reiterated its Buy rating on ShockWave Medical, Inc. (NASDAQ:SWAV) and said that the selloff after the company’s acquisition of Neovasc (NASDAQ:NVCN) is unfounded. BofA analyst Travis Steed said that he does not see the buyout of Neovasc as a sign of ShockWave Medical, Inc. (NASDAQ:SWAV)’s worries about its core Intravascular Lithotripsy (IVL) growth outlook.

As of the end of the third quarter of 2022, 34 hedge funds among the 920 funds tracked by Insider Monkey reported owning shares of ShockWave Medical, Inc. (NASDAQ:SWAV).

Carillon Eagle Small Cap Growth Fund made the following comment about ShockWave Medical, Inc. (NASDAQ:SWAV) in its Q4 2022 investor letter:

“ShockWave Medical, Inc. (NASDAQ:SWAV) develops products to treat calcified cardiovascular disease. Despite reporting extraordinary revenue growth in the quarter, the magnitude of the increase and the forward guidance given were not enough for elevated expectations, and investors who had made money in the stock through early November decided to take some profits.”