First Trust Advisors LP lessened its stake in Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 35.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,193 shares of the company’s stock after selling 47,082 shares during the period. First Trust Advisors LP’s holdings in Shockwave Medical were worth $17,929,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC acquired a new position in Shockwave Medical in the 4th quarter valued at about $38,000. Trifecta Capital Advisors LLC purchased a new stake in Shockwave Medical in the 4th quarter valued at approximately $41,000. PenderFund Capital Management Ltd. purchased a new stake in Shockwave Medical in the 1st quarter valued at approximately $41,000. Altshuler Shaham Ltd purchased a new stake in Shockwave Medical in the 3rd quarter valued at approximately $58,000. Finally, IFP Advisors Inc boosted its holdings in Shockwave Medical by 15.1% in the 3rd quarter. IFP Advisors Inc now owns 1,536 shares of the company’s stock valued at $64,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.
Analysts Set New Price Targets
SWAV has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Shockwave Medical from $252.00 to $275.00 in a report on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shockwave Medical from $285.00 to $310.00 in a report on Tuesday, May 9th. TheStreet raised Shockwave Medical from a “c” rating to a “b-” rating in a report on Friday, March 10th. Needham & Company LLC boosted their price target on Shockwave Medical from $283.00 to $325.00 in a research note on Tuesday, May 9th. Finally, Piper Sandler boosted their price target on Shockwave Medical from $280.00 to $315.00 in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $266.33.
Shockwave Medical Trading Down 0.5 %
Shockwave Medical (NASDAQ:SWAV – Get Rating) last issued its quarterly earnings data on Monday, May 8th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.22. Shockwave Medical had a return on equity of 55.22% and a net margin of 43.18%. The firm had revenue of $161.10 million during the quarter, compared to the consensus estimate of $147.30 million. During the same period in the previous year, the firm posted $0.39 EPS. The company’s quarterly revenue was up 72.1% compared to the same quarter last year. Sell-side analysts anticipate that Shockwave Medical, Inc. will post 4.03 EPS for the current fiscal year.
Insider Buying and Selling at Shockwave Medical
In other Shockwave Medical news, Director Frank T. Watkins sold 3,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $193.19, for a total value of $579,570.00. Following the completion of the transaction, the director now directly owns 3,796 shares in the company, valued at approximately $733,349.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Douglas Evan Godshall sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $187.84, for a total transaction of $5,635,200.00. Following the completion of the sale, the chief executive officer now directly owns 114,741 shares in the company, valued at approximately $21,552,949.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank T. Watkins sold 3,000 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $193.19, for a total value of $579,570.00. Following the sale, the director now owns 3,796 shares of the company’s stock, valued at $733,349.24. The disclosure for this sale can be found here. In the last three months, insiders sold 59,930 shares of company stock worth $12,615,072. Insiders own 3.40% of the company’s stock.
Shockwave Medical Profile
Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm offers M5 catheters for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters or treating below-the-knee peripheral artery disease.
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