Shockwave Medical (NASDAQ:SWAV – Get Free Report) will be issuing its quarterly earnings data after the market closes on Monday, August 7th. Analysts expect the company to announce earnings of $0.85 per share for the quarter. Shockwave Medical has set its FY 2023 guidance at EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.
Shockwave Medical (NASDAQ:SWAV – Get Free Report) last posted its quarterly earnings results on Monday, May 8th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. Shockwave Medical had a return on equity of 55.22% and a net margin of 43.18%. The firm had revenue of $161.10 million for the quarter, compared to the consensus estimate of $147.30 million. During the same period in the previous year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was up 72.1% compared to the same quarter last year. On average, analysts expect Shockwave Medical to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shockwave Medical Stock Down 1.4 %
Shockwave Medical stock opened at $262.94 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.16 and a quick ratio of 3.57. Shockwave Medical has a 1-year low of $172.50 and a 1-year high of $320.54. The company has a market cap of $9.63 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 23.98 and a beta of 0.97. The stock’s 50 day moving average price is $281.57 and its 200 day moving average price is $243.24.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Bank of America boosted their target price on Shockwave Medical from $235.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Needham & Company LLC upped their target price on Shockwave Medical from $283.00 to $325.00 in a research note on Tuesday, May 9th. VNET Group restated a “maintains” rating on shares of Shockwave Medical in a research note on Tuesday, May 9th. Piper Sandler upped their target price on Shockwave Medical from $280.00 to $315.00 in a research report on Tuesday, May 9th. Finally, Morgan Stanley upgraded Shockwave Medical from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $291.00 to $335.00 in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.50.
Insider Activity
In other Shockwave Medical news, CFO Dan Puckett sold 2,050 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $291.95, for a total transaction of $598,497.50. Following the completion of the sale, the chief financial officer now directly owns 29,398 shares of the company’s stock, valued at approximately $8,582,746.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sara Toyloy sold 235 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $296.28, for a total transaction of $69,625.80. Following the completion of the sale, the director now owns 3,037 shares of the company’s stock, valued at $899,802.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dan Puckett sold 2,050 shares of Shockwave Medical stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $291.95, for a total transaction of $598,497.50. Following the completion of the sale, the chief financial officer now directly owns 29,398 shares of the company’s stock, valued at approximately $8,582,746.10. The disclosure for this sale can be found here. Insiders have sold 23,347 shares of company stock valued at $6,535,220 in the last ninety days. 3.40% of the stock is owned by company insiders.
Institutional Trading of Shockwave Medical
Several hedge funds have recently bought and sold shares of SWAV. PenderFund Capital Management Ltd. bought a new position in Shockwave Medical during the 1st quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Shockwave Medical by 43.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 331 shares of the company’s stock worth $68,000 after acquiring an additional 101 shares during the period. Fortis Capital Advisors LLC purchased a new position in Shockwave Medical in the fourth quarter valued at $97,000. CENTRAL TRUST Co increased its stake in shares of Shockwave Medical by 37,300.0% during the third quarter. CENTRAL TRUST Co now owns 748 shares of the company’s stock worth $208,000 after purchasing an additional 746 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in 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 acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Shockwave Medical Company Profile
ShockWave Medical, Inc, a medical device company, develops 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 for use in our 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 for use in IVL System in large diameter vessels.