Rhenman & Partners Asset Management AB Has $15.98 Million Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Rhenman & Partners Asset Management AB lessened its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 16.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 56,000 shares of the company’s stock after selling 11,000 shares during the quarter. Shockwave Medical makes up approximately 1.7% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 27th largest holding. Rhenman & Partners Asset Management AB owned approximately 0.15% of Shockwave Medical worth $15,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of Shockwave Medical by 1.8% during the 1st quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock worth $963,000 after buying an additional 81 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Shockwave Medical by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company’s stock worth $31,361,000 after buying an additional 3,771 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Shockwave Medical by 1.5% during the 1st quarter. Rhumbline Advisers now owns 35,441 shares of the company’s stock worth $7,349,000 after buying an additional 526 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Shockwave Medical during the 1st quarter worth approximately $407,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Shockwave Medical by 36.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock worth $166,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

Insider Activity

In other news, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $214.62, for a total transaction of $2,146,200.00. Following the completion of the sale, the chief executive officer now directly owns 141,649 shares of the company’s stock, valued at approximately $30,400,708.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $214.62, for a total transaction of $2,146,200.00. Following the completion of the sale, the chief executive officer now directly owns 141,649 shares of the company’s stock, valued at approximately $30,400,708.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank T. Watkins sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $209.23, for a total value of $627,690.00. Following the sale, the director now directly owns 1,532 shares of the company’s stock, valued at $320,540.36. The disclosure for this sale can be found here. Insiders sold a total of 53,000 shares of company stock valued at $10,818,190 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SWAV. SVB Leerink initiated coverage on Shockwave Medical in a report on Monday, October 16th. They set an “outperform” rating and a $263.00 price target on the stock. Needham & Company LLC cut their target price on Shockwave Medical from $265.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. TheStreet cut Shockwave Medical from a “b-” rating to a “c+” rating in a report on Thursday, August 10th. Leerink Partnrs reiterated an “outperform” rating on shares of Shockwave Medical in a report on Monday, October 16th. Finally, Morgan Stanley cut their target price on Shockwave Medical from $313.00 to $284.00 and set an “overweight” rating on the stock in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Shockwave Medical currently has an average rating of “Moderate Buy” and an average target price of $269.78.

Shockwave Medical Stock Down 1.5 %

NASDAQ:SWAV traded down $2.71 during trading hours on Tuesday, hitting $172.30. 95,400 shares of the company traded hands, compared to its average volume of 581,330. The company has a quick ratio of 13.19, a current ratio of 14.43 and a debt-to-equity ratio of 1.22. The firm’s 50-day simple moving average is $197.75 and its 200-day simple moving average is $240.58. Shockwave Medical, Inc. has a one year low of $157.00 and a one year high of $315.95. The company has a market cap of $6.36 billion, a PE ratio of 26.81, a PEG ratio of 9.41 and a beta of 1.01.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.11. Shockwave Medical had a return on equity of 42.41% and a net margin of 36.33%. The business had revenue of $186.02 million for the quarter, compared to analysts’ expectations of $184.71 million. During the same period last year, the business earned $0.92 EPS. The business’s revenue was up 41.6% on a year-over-year basis. Equities analysts predict that Shockwave Medical, Inc. will post 3.62 earnings per share for the current year.

About Shockwave Medical

ShockWave Medical, Inc, a medical device company, develops intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters for use in our IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter for use in IVL System in large diameter vessels.