Shockwave Medical (NASDAQ:SWAV) Hits New 12-Month High at $334.28

Shockwave Medical, Inc. (NASDAQ:SWAV)’s share price reached a new 52-week high on Wednesday . The company traded as high as $334.28 and last traded at $334.26, with a volume of 283837 shares traded. The stock had previously closed at $329.64.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SWAV shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $335.00 price objective (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. SVB Leerink restated a “market perform” rating and issued a $335.00 target price (down 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. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Finally, Piper Sandler upped their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Trading Up 0.0 %

The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97. The stock’s 50 day moving average price is $320.08 and its 200-day moving average price is $249.16. The stock has a market capitalization of $12.54 billion, a P/E ratio of 78.06, a P/E/G ratio of 2.43 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The company had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $207.69 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. Shockwave Medical’s revenue for the quarter was up 35.8% compared to the same quarter last year. As a group, equities research analysts expect that Shockwave Medical, Inc. will post 5.05 earnings per share for the current year.

Insider Activity at Shockwave Medical

In related news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the sale, the insider now owns 56,818 shares of the company’s stock, valued at $16,344,834.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the completion of the transaction, the insider now owns 56,818 shares of the company’s stock, valued at $16,344,834.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura Francis sold 1,500 shares of the firm’s 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 completion of the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The disclosure for this sale can be found here. Insiders sold 11,521 shares of company stock valued at $3,154,736 over the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Shockwave Medical by 36.8% during the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after purchasing an additional 664,648 shares during the last quarter. Norges Bank purchased a new position in shares of Shockwave Medical during the fourth quarter worth $68,759,000. Jackson Square Partners LLC purchased a new position in shares of Shockwave Medical during the fourth quarter worth $53,766,000. Armistice Capital LLC raised its holdings in shares of Shockwave Medical by 168.0% during the fourth quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock worth $81,189,000 after purchasing an additional 267,055 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Shockwave Medical during the first quarter worth $85,535,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

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.