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SWAV Stock Alert: Shockwave Medical Lands Big Buyer in Johnson & Johnson
JNJJ&J(JNJ) InvestorPlace·2024-04-05 13:31

Johnson & Johnson (NYSE:JNJ) is buying medical device company Shockwave Medical (NASDAQ:SWAV) for 13.1billion.ShockwavemakesdevicesthatperformIntravascularLithotripsy.Theybreakupcalciumdepositsinarterieswithsoundwaves,inthesamewaykidneystoneshavebeentreatedfor30years.Theannouncementhadlimitedimpactonthestock,however.SWAVstockwassettoopenthismorningatabout13.1 billion. Shockwave makes devices that perform Intravascular Lithotripsy. They break up calcium deposits in arteries with sound waves, in the same way kidney stones have been treated for 30 years. The announcement had limited impact on the stock, however. SWAV stock was set to open this morning at about 325 per share, up just 1.6% from its April 4 close. JNJ stock was nearly unchanged at $153.Why No Big S ...