02:58 PM EDT, 03/26/2024 (MT Newswires) -- (Updates with Shockwave Medical's ( SWAV ) comment in the third paragraph, and stock movements in last paragraph)

Johnson & Johnson ( JNJ ) is considering acquiring medical-device maker Shockwave Medical ( SWAV ) , The Wall Street Journal reported Tuesday.

A deal could be finalized in the coming weeks, the report stated, citing people familiar with the matter.

A Shockwave Medical ( SWAV ) spokesperson told MT Newswires the company does not "comment on rumors or speculation." Johnson & Johnson ( JNJ ) did not immediately respond to a request for comment by MT Newswires.

Shockwave Medical ( SWAV ) shares were up more than 10% in recent trading following a brief trading halt. Johnson & Johnson ( JNJ ) shares were unchanged.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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