Shockwave Medical Inc (NASDAQ:SWAV) – Research analysts at Piper Jaffray Companies lifted their Q4 2019 EPS estimates for shares of Shockwave Medical in a report issued on Wednesday, December 11th. Piper Jaffray Companies analyst A. Maeder now forecasts that the company will earn ($0.47) per share for the quarter, up from their prior estimate of ($0.52). Piper Jaffray Companies has a “Overweight” rating and a $46.00 price target on the stock. Piper Jaffray Companies also issued estimates for Shockwave Medical’s Q1 2020 earnings at ($0.47) EPS, Q2 2020 earnings at ($0.46) EPS, Q4 2020 earnings at ($0.37) EPS, FY2020 earnings at ($1.72) EPS, Q3 2021 earnings at ($0.18) EPS and FY2021 earnings at ($0.78) EPS.
SWAV has been the topic of several other research reports. ValuEngine cut Shockwave Medical from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Oppenheimer initiated coverage on Shockwave Medical in a research note on Tuesday, October 22nd. They set a “market perform” rating on the stock. Canaccord Genuity lowered their target price on Shockwave Medical from $65.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Co raised Shockwave Medical from a “market perform” rating to an “overweight” rating and set a $49.00 target price on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.00.
NASDAQ:SWAV opened at $43.99 on Friday. The company has a quick ratio of 6.28, a current ratio of 6.76 and a debt-to-equity ratio of 0.09. Shockwave Medical has a fifty-two week low of $24.58 and a fifty-two week high of $68.39. The stock’s 50-day moving average is $36.92 and its two-hundred day moving average is $42.99.
Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Thursday, November 7th. The company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.05. The business had revenue of $11.33 million for the quarter, compared to analysts’ expectations of $10.42 million. The firm’s revenue was up 214.7% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in SWAV. Vanguard Group Inc. grew its stake in shares of Shockwave Medical by 1,232.2% in the 2nd quarter. Vanguard Group Inc. now owns 666,096 shares of the company’s stock valued at $38,028,000 after buying an additional 616,096 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Shockwave Medical in the 2nd quarter valued at approximately $18,115,000. Gilder Gagnon Howe & Co. LLC grew its stake in shares of Shockwave Medical by 15.9% in the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,676,916 shares of the company’s stock valued at $50,190,000 after buying an additional 229,515 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Shockwave Medical in the 2nd quarter valued at approximately $11,323,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Shockwave Medical by 8.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,057,775 shares of the company’s stock valued at $114,072,000 after buying an additional 162,999 shares in the last quarter. 58.43% of the stock is owned by institutional investors and hedge funds.
In related news, Director Frederic H. Moll sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $29.59, for a total value of $443,850.00. Also, CEO Douglas Evan Godshall sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $37.42, for a total value of $1,122,600.00. Following the completion of the sale, the chief executive officer now directly owns 46,000 shares of the company’s stock, valued at approximately $1,721,320. The disclosure for this sale can be found here. In the last three months, insiders sold 57,000 shares of company stock valued at $2,000,770.
Shockwave Medical Company Profile
ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.
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