ShockWave Medical, Inc. to Post Q4 2022 Earnings of $0.94 Per Share, Oppenheimer Forecasts (NASDAQ:SWAV)

ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) – Stock analysts at Oppenheimer cut their Q4 2022 earnings estimates for shares of ShockWave Medical in a report released on Wednesday, January 18th. Oppenheimer analyst S. Kalia now forecasts that the company will post earnings of $0.94 per share for the quarter, down from their previous forecast of $0.98. The consensus estimate for ShockWave Medical’s current full-year earnings is $2.95 per share. Oppenheimer also issued estimates for ShockWave Medical’s Q1 2023 earnings at $0.79 EPS.

Several other equities analysts also recently commented on the stock. Bank of America increased their price objective on shares of ShockWave Medical from $260.00 to $310.00 in a research note on Monday, November 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of ShockWave Medical in a research report on Friday, December 16th. They set a “buy” rating and a $285.00 price objective for the company. Wells Fargo & Company lowered shares of ShockWave Medical from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $300.00 to $235.00 in a research note on Monday, December 12th. Finally, Morgan Stanley cut their target price on shares of ShockWave Medical from $290.00 to $224.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, ShockWave Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.89.

ShockWave Medical Stock Performance

Shares of ShockWave Medical stock opened at $180.75 on Friday. The company has a 50 day moving average of $222.17 and a 200-day moving average of $248.07. ShockWave Medical has a 1-year low of $113.36 and a 1-year high of $320.54. The company has a current ratio of 7.29, a quick ratio of 6.02 and a debt-to-equity ratio of 0.04. The company has a market cap of $6.53 billion, a PE ratio of 77.58 and a beta of 1.04.

ShockWave Medical (NASDAQ:SWAVGet Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.24. The business had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.85 million. ShockWave Medical had a net margin of 20.48% and a return on equity of 30.08%.

Insider Transactions at ShockWave Medical

In related news, CFO Dan Puckett sold 1,100 shares of ShockWave Medical stock in a transaction on Monday, November 21st. The shares were sold at an average price of $246.96, for a total value of $271,656.00. Following the transaction, the chief financial officer now directly owns 39,938 shares of the company’s stock, valued at $9,863,088.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Dan Puckett sold 1,100 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $246.96, for a total value of $271,656.00. Following the sale, the chief financial officer now directly owns 39,938 shares of the company’s stock, valued at approximately $9,863,088.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Evan Godshall sold 30,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $240.81, for a total transaction of $7,224,300.00. Following the completion of the transaction, the chief executive officer now owns 82,926 shares in the company, valued at approximately $19,969,410.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,200 shares of company stock worth $13,556,199. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ShockWave Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWAV. Tobam bought a new position in shares of ShockWave Medical during the 3rd quarter valued at approximately $32,000. CWM LLC lifted its position in shares of ShockWave Medical by 219.7% during the second quarter. CWM LLC now owns 195 shares of the company’s stock worth $37,000 after purchasing an additional 134 shares during the last quarter. Trifecta Capital Advisors LLC bought a new stake in shares of ShockWave Medical during the fourth quarter worth $41,000. PenderFund Capital Management Ltd. purchased a new position in shares of ShockWave Medical during the first quarter valued at $41,000. Finally, First Horizon Advisors Inc. increased its stake in shares of ShockWave Medical by 3,666.7% during the second quarter. First Horizon Advisors Inc. now owns 226 shares of the company’s stock valued at $43,000 after buying an additional 220 shares during the period. 90.56% of the stock is owned by hedge funds and other institutional investors.

About ShockWave Medical

(Get Rating)

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

Receive News & Ratings for ShockWave Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ShockWave Medical and related companies with MarketBeat.com's FREE daily email newsletter.