On Wednesday, Shockwave Medical stock got a positive adjustment to its Relative Strength (RS) Rating, from 90 to 94. The stock has been rallying amid a Wall Street Journal report that Johnson and Johnson is in talks to buy Shockwave Medical.
This exclusive rating from Investor's Business Daily measures share price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research reveals that the top-performing stocks tend to have an 80 or higher RS Rating in the early stages of their moves.
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Is Shockwave Medical Stock A Buy?
The IBD 50 stock has moved more than 5% past a 308.09 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the medical device stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The medical device maker reported -2% EPS growth in its most recent report, while sales growth came in at 41%.
Shockwave Medical stock earns the No. 4 rank among its peers in the Medical-Systems/Equipment industry group. Bruker Corp is the top-ranked stock within the group.
