Sanuwave Health (NASDAQ:SNWV) Releases Earnings Results, Beats Expectations By $0.14 EPS

Sanuwave Health (NASDAQ:SNWV) issued its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.14, FiscalAI reports. The firm had revenue of $11.45 million during the quarter.

Sanuwave Health Price Performance

Sanuwave Health stock traded up $4.67 during mid-day trading on Friday, reaching $31.08. 217,429 shares of the company traded hands, compared to its average volume of 65,321. The firm’s fifty day moving average is $33.82 and its two-hundred day moving average is $33.61. Sanuwave Health has a fifty-two week low of $18.50 and a fifty-two week high of $46.58. The company has a market capitalization of $266.29 million, a price-to-earnings ratio of -3.77 and a beta of 1.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SNWV shares. Northland Securities started coverage on shares of Sanuwave Health in a report on Wednesday, September 3rd. They set an “outperform” rating and a $55.00 price objective for the company. Northland Capmk upgraded shares of Sanuwave Health to a “strong-buy” rating in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Sanuwave Health in a report on Wednesday, October 8th. Roth Capital set a $53.00 price objective on Sanuwave Health and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen downgraded shares of Sanuwave Health from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Investors Weigh In On Sanuwave Health

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in shares of Sanuwave Health in the second quarter valued at approximately $26,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Sanuwave Health in the first quarter worth about $47,000. BNP Paribas Financial Markets purchased a new position in shares of Sanuwave Health during the 2nd quarter worth $46,000. Farther Finance Advisors LLC acquired a new stake in Sanuwave Health during the third quarter worth $57,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Sanuwave Health in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 42.53% of the company’s stock.

Sanuwave Health Company Profile

SANUWAVE Health, Inc, a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, and musculoskeletal and vascular structures.