SVB Leerink Brokers Increase Earnings Estimates for ShockWave Medical, Inc. (NASDAQ:SWAV)

ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) – Research analysts at SVB Leerink increased their Q2 2022 earnings estimates for ShockWave Medical in a research report issued to clients and investors on Monday, May 9th. SVB Leerink analyst D. Antalffy now anticipates that the company will post earnings of $0.41 per share for the quarter, up from their prior estimate of $0.30. SVB Leerink currently has a “Outperform” rating and a $190.00 price target on the stock. SVB Leerink also issued estimates for ShockWave Medical’s FY2022 earnings at $1.89 EPS, Q1 2023 earnings at $0.57 EPS, Q2 2023 earnings at $0.63 EPS, Q3 2023 earnings at $0.66 EPS, Q4 2023 earnings at $0.75 EPS and FY2025 earnings at $5.45 EPS.

ShockWave Medical (NASDAQ:SWAVGet Rating) last announced its earnings results on Monday, May 9th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.20. ShockWave Medical had a negative return on equity of 4.18% and a negative net margin of 3.85%. The business had revenue of $93.70 million during the quarter, compared to analyst estimates of $86.41 million. During the same quarter in the previous year, the business earned ($0.68) earnings per share. The company’s revenue for the quarter was up 193.7% compared to the same quarter last year.

SWAV has been the subject of a number of other research reports. Morgan Stanley reduced their price objective on shares of ShockWave Medical from $210.00 to $199.00 and set an “equal weight” rating for the company in a research note on Friday, February 18th. Bank of America assumed coverage on shares of ShockWave Medical in a research note on Wednesday, March 2nd. They issued a “buy” rating for the company. Wells Fargo & Company reduced their price objective on shares of ShockWave Medical from $235.00 to $176.00 in a research note on Tuesday. Zacks Investment Research raised shares of ShockWave Medical from a “hold” rating to a “strong-buy” rating and set a $203.00 price objective for the company in a research note on Wednesday, January 12th. Finally, Canaccord Genuity Group reduced their price objective on shares of ShockWave Medical from $221.00 to $190.00 in a research note on Tuesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $212.89.

Shares of NASDAQ:SWAV opened at $136.14 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.54 and a quick ratio of 4.71. The firm has a market capitalization of $4.87 billion, a PE ratio of -453.80 and a beta of 1.50. The business has a 50 day simple moving average of $180.52 and a two-hundred day simple moving average of $179.24. ShockWave Medical has a 1 year low of $113.36 and a 1 year high of $249.73.

In related news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $149.96, for a total value of $599,840.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Trinh Phung sold 3,176 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $215.61, for a total value of $684,777.36. Following the completion of the transaction, the vice president now directly owns 29,695 shares in the company, valued at $6,402,538.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,242 shares of company stock worth $16,799,585. Insiders own 15.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of ShockWave Medical by 5.5% in the 4th quarter. BlackRock Inc. now owns 2,716,533 shares of the company’s stock valued at $484,441,000 after acquiring an additional 142,368 shares during the period. Invesco Ltd. increased its position in shares of ShockWave Medical by 116.1% in the 3rd quarter. Invesco Ltd. now owns 1,310,949 shares of the company’s stock valued at $269,897,000 after acquiring an additional 704,446 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of ShockWave Medical in the 4th quarter valued at $168,314,000. State Street Corp boosted its holdings in ShockWave Medical by 2.0% in the fourth quarter. State Street Corp now owns 701,375 shares of the company’s stock valued at $125,076,000 after purchasing an additional 13,712 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in ShockWave Medical by 14.7% in the fourth quarter. Credit Suisse AG now owns 689,659 shares of the company’s stock valued at $122,987,000 after purchasing an additional 88,622 shares during the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

ShockWave Medical Company Profile (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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Earnings History and Estimates for ShockWave Medical (NASDAQ:SWAV)

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