Deepwater Asset Management LLC cut its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV – Free Report) by 66.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,208 shares of the company’s stock after selling 10,113 shares during the period. Shockwave Medical makes up about 0.4% of Deepwater Asset Management LLC’s portfolio, making the stock its 25th biggest holding. Deepwater Asset Management LLC’s holdings in Shockwave Medical were worth $992,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 116 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Shockwave Medical in the 1st quarter valued at approximately $41,000. Operose Advisors LLC bought a new stake in shares of Shockwave Medical in the 3rd quarter valued at approximately $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Shockwave Medical by 43.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 331 shares of the company’s stock valued at $68,000 after purchasing an additional 101 shares during the last quarter. 87.35% of the stock is owned by institutional investors.
Insider Activity
In related news, CEO Douglas Evan Godshall sold 10,000 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $200.05, for a total transaction of $2,000,500.00. Following the transaction, the chief executive officer now directly owns 141,057 shares in the company, valued at approximately $28,218,452.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $200.05, for a total value of $2,000,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,057 shares in the company, valued at approximately $28,218,452.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trinh Phung sold 1,287 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the transaction, the vice president now owns 32,933 shares in the company, valued at approximately $7,646,383.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,313 shares of company stock worth $26,736,379. 3.40% of the stock is currently owned by company insiders.
Shockwave Medical Stock Up 10.0 %
Shares of NASDAQ:SWAV traded up $28.84 on Tuesday, reaching $316.07. The company had a trading volume of 3,330,232 shares, compared to its average volume of 581,636. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week high of $327.73. The firm’s 50 day simple moving average is $250.64 and its 200-day simple moving average is $213.87. The firm has a market capitalization of $11.82 billion, a PE ratio of 81.67, a PEG ratio of 2.37 and a beta of 0.90. 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 (NASDAQ:SWAV – Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. During the same period last year, the business posted $3.71 EPS. The business’s revenue was up 41.0% compared to the same quarter last year. As a group, analysts expect that Shockwave Medical, Inc. will post 4.89 earnings per share for the current fiscal year.
Analysts Set New Price Targets
SWAV has been the subject of several analyst reports. Piper Sandler raised their price objective on Shockwave Medical from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Morgan Stanley lowered their price objective on Shockwave Medical from $284.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, December 4th. Needham & Company LLC raised their price objective on Shockwave Medical from $260.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Wells Fargo & Company raised their price target on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Finally, TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $259.38.
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.
Further Reading
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