Zacks Research Analysts Lift Earnings Estimates for Shockwave Medical, Inc. (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV) – Zacks Research raised their Q1 2024 earnings estimates for shares of Shockwave Medical in a report issued on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now forecasts that the company will earn $0.98 per share for the quarter, up from their prior estimate of $0.92. 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 Q2 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $4.83 EPS, Q3 2025 earnings at $1.51 EPS, Q4 2025 earnings at $1.83 EPS, Q1 2026 earnings at $1.60 EPS and FY2026 earnings at $7.34 EPS.

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

Other equities research analysts have also issued reports about the stock. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a report 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. Leerink Partnrs cut Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Piper Sandler raised their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Stock Up 0.0 %

SWAV stock opened at $327.52 on Wednesday. The stock has a market cap of $12.25 billion, a P/E ratio of 84.63, a PEG ratio of 2.43 and a beta of 0.92. 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 has a twelve month low of $157.00 and a twelve month high of $331.58. The company’s 50 day moving average is $282.20 and its two-hundred day moving average is $227.08.

Insider Transactions at Shockwave Medical

In related news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the completion of the sale, the director now 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, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 owns 3,551 shares in the company, valued at approximately $1,065,300. The disclosure for this sale can be found here. Insiders sold a total of 93,813 shares of company stock valued at $23,762,679 over the last three months. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Raymond James & Associates grew its position in shares of Shockwave Medical by 1.8% during the first quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock worth $963,000 after buying an additional 81 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Shockwave Medical by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company’s stock worth $31,361,000 after purchasing an additional 3,771 shares during the last quarter. Rhumbline Advisers increased its position in shares of Shockwave Medical by 1.5% in the 1st quarter. Rhumbline Advisers now owns 35,441 shares of the company’s stock worth $7,349,000 after purchasing an additional 526 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Shockwave Medical in the 1st quarter valued at about $407,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Shockwave Medical by 36.3% during the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock worth $166,000 after purchasing an additional 213 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

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.