Shockwave Medical, Inc. (NASDAQ:SWAV) Expected to Post Q3 2024 Earnings of $1.20 Per Share

Shockwave Medical, Inc. (NASDAQ:SWAV) – Zacks Research boosted their Q3 2024 EPS estimates for shares of Shockwave Medical in a note issued to investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings of $1.20 per share for the quarter, up from their prior forecast of $1.11. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for Shockwave Medical’s Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.40 EPS and FY2025 earnings at $5.99 EPS.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly 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. The firm had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The business’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.71 EPS.

Several other research firms have also weighed in on SWAV. CL King restated a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Needham & Company LLC reiterated a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Stock Performance

NASDAQ:SWAV opened at $327.52 on Thursday. The stock’s fifty day moving average is $282.20 and its 200 day moving average is $227.08. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The firm has a market capitalization of $12.25 billion, a PE ratio of 84.63, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76.

Insider Transactions at Shockwave Medical

In related news, CFO Dan Puckett sold 3,406 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the sale, the chief financial officer now owns 27,732 shares in the company, valued at $6,371,704.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the transaction, the director now directly owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Puckett sold 3,406 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the transaction, the chief financial officer now directly owns 27,732 shares of the company’s stock, valued at $6,371,704.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,813 shares of company stock worth $23,762,679. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Shockwave Medical

Hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC grew its stake in shares of Shockwave Medical by 64.8% in 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. Riverview Trust Co purchased a new stake in Shockwave Medical during the first quarter valued at about $30,000. EverSource Wealth Advisors LLC grew its position in Shockwave Medical by 297.4% during the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after acquiring an additional 116 shares during the period. Rise Advisors LLC purchased a new stake in Shockwave Medical during the first quarter valued at about $32,000. Finally, Quarry LP purchased a new stake in Shockwave Medical during the fourth quarter valued at about $33,000. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

About Shockwave Medical

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.