State of Alaska Department of Revenue Cuts Stock Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

State of Alaska Department of Revenue reduced its position in Shockwave Medical, Inc. (NASDAQ:SWAV) by 8.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,988 shares of the company’s stock after selling 380 shares during the quarter. State of Alaska Department of Revenue’s holdings in Shockwave Medical were worth $759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SWAV. Harbour Investments Inc. lifted its stake in shares of Shockwave Medical by 3.3% in the 1st quarter. Harbour Investments Inc. now owns 1,300 shares of the company’s stock valued at $282,000 after acquiring an additional 41 shares during the last quarter. Snowden Capital Advisors LLC raised its position in Shockwave Medical by 1.4% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,035 shares of the company’s stock valued at $658,000 after purchasing an additional 43 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Shockwave Medical by 11.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after purchasing an additional 50 shares during the last quarter. Lindbrook Capital LLC raised its position in Shockwave Medical by 64.8% during the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Shockwave Medical by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock valued at $3,263,000 after purchasing an additional 60 shares during the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Piper Sandler upped their price target on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a report on Monday. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $305.70.

Shockwave Medical Stock Performance

Shares of SWAV opened at $329.64 on Thursday. The business’s fifty day simple moving average is $272.84 and its two-hundred day simple moving average is $222.58. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. Shockwave Medical, Inc. has a 12 month low of $157.00 and a 12 month high of $331.58. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 85.18, a P/E/G ratio of 2.75 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last issued its earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The business had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. During the same period last year, the business posted $3.71 EPS. The company’s revenue was up 41.0% compared to the same quarter last year. Research analysts anticipate that Shockwave Medical, Inc. will post 4.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Trinh Phung sold 599 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the transaction, the vice president now directly owns 31,031 shares of the company’s stock, valued at approximately $8,044,476.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Laura Francis sold 1,500 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the transaction, the director now directly owns 3,551 shares in the company, valued at $1,065,300. The disclosure for this sale can be found here. Insiders have sold 103,813 shares of company stock valued at $25,938,579 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

Shockwave Medical Company Profile

Shockwave Medical, Inc, a medical device company, develops and commercializes 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 used in 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 used for IVL System in large diameter vessels.