Shockwave Medical, Inc. (NASDAQ:SWAV) Stock Position Raised by Jennison Associates LLC

Jennison Associates LLC lifted its position in Shockwave Medical, Inc. (NASDAQ:SWAV) by 13.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,551 shares of the company’s stock after acquiring an additional 11,651 shares during the quarter. Jennison Associates LLC owned approximately 0.27% of Shockwave Medical worth $19,161,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC lifted its position 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 acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after buying an additional 116 shares during the period. Asset Management One Co. Ltd. acquired a new position in Shockwave Medical in the 4th quarter valued at approximately $34,000. Operose Advisors LLC acquired a new position in Shockwave Medical in the 3rd quarter valued at approximately $49,000. Finally, Venturi Wealth Management LLC acquired a new position in Shockwave Medical in the 3rd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SWAV. Canaccord Genuity Group reiterated a “hold” rating and issued a $335.00 price objective (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. SVB Leerink restated a “market perform” rating and set a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Needham & Company LLC restated a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $309.11.

Shockwave Medical Price Performance

Shares of Shockwave Medical stock opened at $328.99 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. Shockwave Medical, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The firm has a fifty day moving average price of $293.53 and a two-hundred day moving average price of $232.36. The company has a market cap of $12.30 billion, a PE ratio of 85.01, a price-to-earnings-growth ratio of 2.44 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The firm had revenue of $202.98 million during the quarter, compared to the consensus estimate of $199.43 million. During the same period in the prior year, the firm earned $3.71 EPS. The business’s revenue was up 41.0% on a year-over-year basis. Analysts expect that Shockwave Medical, Inc. will post 4.94 EPS for the current year.

Insider Buying and Selling at Shockwave Medical

In other Shockwave Medical news, 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 sale, the chief financial officer now directly owns 27,732 shares of the company’s stock, valued at approximately $6,371,704.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Trinh Phung sold 1,287 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the completion of the transaction, the vice president now directly owns 32,933 shares of the company’s stock, valued at approximately $7,646,383.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Puckett sold 3,406 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $229.76, for a total transaction of $782,562.56. Following 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. Insiders sold a total of 89,813 shares of company stock valued at $22,863,919 in the last ninety days. Company insiders own 3.40% of the company’s stock.

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.