Shockwave Medical Stock Rises After Johnson & Johnson Buyout

Shockwave Medical Inc (NASDAQ:SWAV) is in the spotlight today, after blue-chip pharmaceutical giant Johnson & Johnson (JNJ) announced it would buy the company for $12.5 billion, boosting its portfolio of cardiovascular disease treatment devices. SWAV was last seen up 1.8% at $325.77 after the news, while JNJ is down 0.07% at $152.38.SWAV received a pair of bear notes in response. Needham downgraded the stock to "hold" from "buy," while Piper Sandler slashed its rating to "neutral" from "overweight." Of the ...