JNJ - Why Shockwave Medical Stock Rallied as Much as 18% Higher This Week
2024-03-29 09:00:00 ET
Shares of Shockwave Medical (NASDAQ: SWAV) charged sharply higher this week, soaring as much as 18%, according to data supplied by S&P Global Market Intelligence . As of market close on Thursday, the stock was still up 15.9%.
The springboard that sent the medical device specialist higher was rumors of a proposed buyout and bullish coverage from a Wall Street analyst.
Healthcare giant Johnson & Johnson (NYSE: JNJ) has made overtures to acquire Shockwave Medical, according to a report that first appeared in The Wall Street Journal. A deal could be consummated in the coming weeks if an agreement can be reached, according to the report.
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Why Shockwave Medical Stock Rallied as Much as 18% Higher This Week