Opaleye Management Inc. decreased its holdings in shares of Sanuwave Health Inc. (NASDAQ:SNWV – Free Report) by 68.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,140 shares of the company’s stock after selling 675,127 shares during the quarter. Opaleye Management Inc.’s holdings in Sanuwave Health were worth $3,061,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. AWM Investment Company Inc. purchased a new position in shares of Sanuwave Health in the second quarter worth about $4,546,000. BlackRock Inc. purchased a new stake in Sanuwave Health during the 2nd quarter valued at about $1,599,000. Solas Capital Management LLC grew its stake in Sanuwave Health by 112.5% during the 2nd quarter. Solas Capital Management LLC now owns 610,968 shares of the company’s stock valued at $6,110,000 after acquiring an additional 323,454 shares in the last quarter. Bank of America Corp DE raised its holdings in Sanuwave Health by 4.9% in the 1st quarter. Bank of America Corp DE now owns 25,503 shares of the company’s stock valued at $441,000 after acquiring an additional 1,182 shares during the last quarter. Finally, HRT Financial LP acquired a new stake in Sanuwave Health in the 4th quarter valued at about $205,000. 42.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut Sanuwave Health from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sanuwave Health has a consensus rating of “Hold” and an average target price of $47.00.
Sanuwave Health Price Performance
Sanuwave Health stock opened at $4.00 on Friday. Sanuwave Health Inc. has a 12-month low of $3.92 and a 12-month high of $40.87. The stock has a market cap of $34.40 million, a P/E ratio of 16.67 and a beta of 1.47. The company has a 50-day moving average price of $6.29 and a 200 day moving average price of $13.36. The company has a current ratio of 1.28, a quick ratio of 0.89 and a debt-to-equity ratio of 4.87.
Sanuwave Health (NASDAQ:SNWV – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.05). The firm had revenue of $9.74 million during the quarter, compared to analyst estimates of $11.50 million. Sanuwave Health had a net margin of 32.38% and a return on equity of 1,728.10%.
Sanuwave Health Company Profile
Sanuwave Health, Inc is a medical technology company specializing in the development and commercialization of non-invasive acoustic wave therapies designed to stimulate tissue regeneration and accelerate healing. The company’s proprietary Extracorporeal Pulse Activated Technology (EPAT) delivers focused acoustic pressure waves to injured or chronic wound sites, activating the body’s natural repair mechanisms. Sanuwave’s primary therapeutic areas include advanced wound care for diabetic and venous ulcers, as well as orthopedic and musculoskeletal conditions.
The company’s lead product, the dermaPACE® system, holds clearance from the U.S.
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