Shockwave Medical ticks higher amid takeover speculation
May 10, 2023 4:23 PM ETShockwave Medical, Inc. (SWAV)JNJ, BSX, MDTBy: Joshua Fineman, SA News Editor
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- Shockwave Medical (NASDAQ:SWAV) ticked up 1.3% amid speculation that the company is seeing additional takeover interest.
- The cardiovascular device maker is said be seeing takeover interest from Johnson & Johnson (JNJ) and Medtronic (MDT), according to a StreetInsider report, which cited an unidentified source. It's not clear if either companies' interest will lead to a transaction.
- The latest update comes after StreetInsider reported Monday that Boston Scientific (BSX) talks with Shockwave Medical talks had fallen apart. The recent reports follow after Bloomberg last month reported that Boston Scientific was said to be considering a takeover of Shockwave.
- Shockwave (SWAV) is said to be looking for an offer in the mid-$300s versus the current market price of $289, according to the StreetInsider report. Boston Scientific (BSX) was said to have offered $275 per share with half the deal in cash and the other in stock.
- Shockwave (SWAV) told the publication the company doesn't comment on rumors or speculation.
- Shockwave (SWAV) on Monday reported Q1 results that beat on EPS and revenue.