Wednesday, March 27, 2024 8:13:17 PM
Shockwave Medical ( SWAV ) is a cardiovascular medical device.
In 2022, Johnson & Johnson ( JNJ ) acquired heart failure device-focused Abiomed Inc. for an upfront payment of $380.00 per share in cash, corresponding to an enterprise value of approximately $16.6 billion.
Piper Sandler says it has considered Johnson & Johnson ( JNJ ) a potential buyer due to its interest in expanding into cardiovascular devices and strong financial position.
Additionally, there were reports in May 2023 indicating Johnson & Johnson’s interest in acquiring Shockwave Medical ( SWAV ). However, the Piper analyst writes that Shockwave Medical ( SWAV ) could thrive independently, maintaining the Overweight rating.
Piper’s analysis suggests that acquiring Shockwave Medical ( SWAV ) would likely require a substantial offer due to its profile.
Compared with Johnson & Johnson’s acquisition of Abiomed, which was about 12.5x consensus 2024 revenue without milestones and closer to 13.7x with milestones, it provides a benchmark.
Shockwave Medical ( SWAV ) reportedly sought bids around the mid-$300s per share, Piper notes, citing a StreetInsider report.
While a Johnson & Johnson-Shockwave Medical combination seems suitable, other major players like Medtronic Plc ( MDT ) and Boston Scientific Corporation ( BSX ) , with their focus in interventional cardiology and peripheral vascular, could also be interested.
Both Medtronic ( MDT ) and Boston Scientific ( BSX ) had shown previous interest in acquiring Shockwave Medical ( SWAV ).
The absence of obvious FTC issues suggests regulatory clearance wouldn’t be a major hurdle. A competitive bidding process could emerge, with Johnson & Johnson ( JNJ ) viewed as a strong strategic fit for Shockwave Medical ( SWAV ).
Price Action: SWAV shares closed higher by 2.07% at $322.61 on Wednesday.
Recent SWAV News
- Shockwave Reducer Demonstrates Consistent, Positive Results in ‘Real-World’ Study • GlobeNewswire Inc. • 04/08/2024 08:03:00 PM
- Rowley Law PLLC is Investigating Proposed Acquisition of Shockwave Medical, Inc. • PR Newswire (US) • 04/05/2024 06:55:00 PM
- Kuehn Law Encourages KTRA, ABIO, SWAV, and NS Investors to Contact Law Firm • PR Newswire (US) • 04/05/2024 05:09:00 PM
- Johnson & Johnson to Acquire Shockwave Medical • Business Wire • 04/05/2024 10:31:00 AM
- GameStop Shares Tumble 20% in Pre-Market Trading Amid Revenue Decline, Direct Digital Plummets 42%, and More News • IH Market News • 03/27/2024 10:54:47 AM
- Shockwave Medical to Participate in the 23rd Annual Needham Virtual Healthcare Conference • GlobeNewswire Inc. • 03/26/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 02:10:29 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/06/2024 09:24:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 10:09:57 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/26/2024 09:27:05 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/26/2024 09:06:34 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/23/2024 10:56:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 01:13:28 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/22/2024 09:24:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/22/2024 01:55:36 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/15/2024 09:03:36 PM
- Shockwave Medical Reports Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 02/15/2024 09:03:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 01:17:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:18:39 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:14:59 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/07/2024 01:11:50 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/06/2024 09:13:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/03/2024 01:09:52 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/03/2024 01:08:08 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/30/2024 01:08:44 AM
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