Shockwave Medical, Inc. (NASDAQ:SWAV) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 12.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,133 shares of the company’s stock after purchasing an additional 917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shockwave Medical were worth $1,550,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its position in Shockwave Medical by 3.8% during the third quarter. FMR LLC now owns 2,527,893 shares of the company’s stock valued at $503,303,000 after purchasing an additional 92,919 shares in the last quarter. Wellington Management Group LLP grew its position in Shockwave Medical by 33.5% during the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock valued at $359,529,000 after purchasing an additional 453,048 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Shockwave Medical by 21.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock valued at $278,369,000 after purchasing an additional 250,352 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Shockwave Medical by 35.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 645,634 shares of the company’s stock valued at $128,546,000 after purchasing an additional 170,369 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Shockwave Medical by 66.7% in the third quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company’s stock worth $76,917,000 after acquiring an additional 154,637 shares in the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on SWAV. Wells Fargo & Company boosted their target price on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Piper Sandler boosted 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. Finally, SVB Leerink reissued a “market perform” rating and issued a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Price Performance

Shares of Shockwave Medical stock opened at $328.99 on Friday. The firm has a fifty day simple moving average of $293.53 and a 200-day simple moving average of $232.36. 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, Inc. has a 1-year low of $157.00 and a 1-year high of $331.58. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 85.01, a PEG ratio of 2.44 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last released its 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 analysts’ expectations of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.71 EPS. On average, sell-side analysts expect that Shockwave Medical, Inc. will post 4.94 earnings per share for the current year.

Insider Activity at Shockwave Medical

In related news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction 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 directly owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the business’s 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 sale, the chief financial officer now 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 Securities & Exchange Commission, which is available at this link. Also, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction 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 sale, the director now directly 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 89,813 shares of company stock worth $22,863,919 in the last ninety days. 3.40% of the stock is currently owned by insiders.

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.