High profits, consistent growth: Shockwave Medical seen as a ‘must-buy’ stock
Shockwave Medical, the California-based healthcare technology company known for developing intravascular lithotripsy (IVL) technology, is an attractive option for investors hoping to expand their stock portfolio, according to a new analysis from a leading investment firm.
The company has certainly had a momentous 2023. In addition to acquiring Neovasc for approximately $100 million, benefiting from new Society for Cardiovascular Angiography and Interventions recommendations and launching a new catheter, the company was at the center of multiple acquisition rumors that suggest it is one of the most in-demand properties on the market today.
These numerous successes—in addition to a lack of direct competition for the foreseeable future—led Investor Place to list Shockwave Medical as one its “three most promising healthcare stocks to own now.”
“Healthcare is a sector that invests heavily in research and produces lots of innovation,” according to the firm’s analysis. “After all, the world needs drugs and medical equipment for the various medical challenges that ail us. That’s why leading healthcare companies are a must-own for any diversified portfolio.”
In its breakdown, Investor Place described Shockwave Medical as a “must-own” stock. The other two stocks mentioned were:
- TransMedics Group, a healthcare technology company in the organ preservation space
- Insulet, a medical device company focused on diabetes care
The author of this analysis did not have a stake in any of these stocks when they wrote their analysis.
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Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.