Arizona State Retirement System Acquires 74 Shares of ShockWave Medical, Inc. (NASDAQ:SWAV)

Arizona State Retirement System boosted its holdings in shares of ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,589 shares of the company’s stock after acquiring an additional 74 shares during the quarter. Arizona State Retirement System’s holdings in ShockWave Medical were worth $1,781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its position in ShockWave Medical by 104.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Signaturefd LLC raised its position in shares of ShockWave Medical by 73.6% in the first quarter. Signaturefd LLC now owns 224 shares of the company’s stock valued at $46,000 after purchasing an additional 95 shares during the period. Summit Global Investments raised its position in shares of ShockWave Medical by 2.2% in the first quarter. Summit Global Investments now owns 4,803 shares of the company’s stock valued at $996,000 after purchasing an additional 103 shares during the period. First Horizon Advisors Inc. raised its position in shares of ShockWave Medical by 67.7% in the fourth quarter. First Horizon Advisors Inc. now owns 260 shares of the company’s stock valued at $45,000 after purchasing an additional 105 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of ShockWave Medical by 15.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,165 shares of the company’s stock valued at $208,000 after purchasing an additional 152 shares during the period. Institutional investors own 89.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of ShockWave Medical from $235.00 to $176.00 in a research report on Tuesday, May 10th. Canaccord Genuity Group dropped their price target on shares of ShockWave Medical from $221.00 to $190.00 in a research report on Tuesday, May 10th. Wolfe Research began coverage on shares of ShockWave Medical in a research note on Tuesday, April 5th. They issued an “outperform” rating and a $255.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of ShockWave Medical from $180.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Friday, July 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, ShockWave Medical currently has an average rating of “Moderate Buy” and a consensus target price of $216.43.

Insider Buying and Selling at ShockWave Medical

In other ShockWave Medical news, CEO Douglas Evan Godshall sold 5,000 shares of ShockWave Medical stock in a transaction on Friday, May 13th. The stock was sold at an average price of $150.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 142,926 shares of the company’s stock, valued at $21,438,900. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $198.00, for a total value of $792,000.00. Following the completion of the transaction, the insider now directly owns 78,563 shares of the company’s stock, valued at $15,555,474. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas Evan Godshall sold 5,000 shares of ShockWave Medical stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $150.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 142,926 shares of the company’s stock, valued at $21,438,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,112 shares of company stock valued at $8,574,488. 15.30% of the stock is currently owned by company insiders.

ShockWave Medical Stock Down 2.7 %

SWAV opened at $210.93 on Monday. ShockWave Medical, Inc. has a fifty-two week low of $113.36 and a fifty-two week high of $249.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.07 and a quick ratio of 5.03. The firm’s fifty day moving average price is $187.54 and its two-hundred day moving average price is $175.02. The company has a market capitalization of $7.55 billion, a P/E ratio of 273.94 and a beta of 1.28.

ShockWave Medical (NASDAQ:SWAVGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.20. ShockWave Medical had a net margin of 9.70% and a return on equity of 12.36%. The firm had revenue of $93.70 million for the quarter, compared to the consensus estimate of $86.41 million. During the same quarter in the previous year, the company earned ($0.68) earnings per share. The business’s revenue was up 193.7% compared to the same quarter last year. On average, analysts anticipate that ShockWave Medical, Inc. will post 2.02 EPS for the current year.

ShockWave Medical Company Profile

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ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.

Further Reading

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Institutional Ownership by Quarter for ShockWave Medical (NASDAQ:SWAV)

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