Insider Selling: ShockWave Medical, Inc. (NASDAQ:SWAV) CFO Sells 3,691 Shares of Stock

ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) CFO Dan Puckett sold 3,691 shares of the business’s stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $200.59, for a total value of $740,377.69. Following the completion of the transaction, the chief financial officer now directly owns 39,938 shares in the company, valued at $8,011,163.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dan Puckett also recently made the following trade(s):

• On Tuesday, February 22nd, Dan Puckett sold 6,621 shares of ShockWave Medical stock. The shares were sold at an average price of $144.71, for a total value of $958,124.91.
• On Thursday, January 20th, Dan Puckett sold 1,500 shares of ShockWave Medical stock. The shares were sold at an average price of $146.49, for a total value of $219,735.00.

ShockWave Medical stock traded down $1.37 during trading on Wednesday, hitting $204.20. 315,436 shares of the company were exchanged, compared to its average volume of 435,159. The business’s 50 day moving average is $179.90 and its 200 day moving average is $183.44. ShockWave Medical, Inc. has a 52 week low of $125.00 and a 52 week high of $249.73. The company has a market capitalization of $7.28 billion, a P/E ratio of -685.23 and a beta of 1.30. The company has a current ratio of 5.54, a quick ratio of 4.71 and a debt-to-equity ratio of 0.05.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.27. The business had revenue of $84.18 million during the quarter, compared to the consensus estimate of $75.27 million. ShockWave Medical had a negative return on equity of 4.18% and a negative net margin of 3.85%. During the same quarter in the prior year, the company posted ($0.46) earnings per share. Equities analysts expect that ShockWave Medical, Inc. will post 1.47 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new position in ShockWave Medical in the 1st quarter valued at $419,000. Frontier Capital Management Co. LLC bought a new position in ShockWave Medical in the 1st quarter valued at $18,614,000. Matisse Capital grew its stake in ShockWave Medical by 31.2% in the 1st quarter. Matisse Capital now owns 11,321 shares of the company’s stock valued at $2,348,000 after purchasing an additional 2,690 shares during the period. Norges Bank bought a new position in ShockWave Medical in the 4th quarter valued at $24,345,000. Finally, JustInvest LLC purchased a new position in shares of ShockWave Medical during the 4th quarter valued at $597,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Several equities analysts have issued reports on SWAV shares. Morgan Stanley dropped their price target on ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Friday, February 18th. Zacks Investment Research raised ShockWave Medical from a “hold” rating to a “strong-buy” rating and set a $203.00 price target on the stock in a research note on Wednesday, January 12th. SVB Leerink boosted their price target on ShockWave Medical from $160.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 18th. Piper Sandler decreased their price objective on ShockWave Medical from $272.00 to $245.00 in a report on Friday, February 18th. Finally, Wolfe Research started coverage on ShockWave Medical in a report on Tuesday, April 5th. They set an “outperform” rating and a $255.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $220.33.

About ShockWave Medical (Get Rating)

ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of 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 (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.

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