Q3 2022 Earnings Forecast for ShockWave Medical, Inc. Issued By SVB Leerink (NASDAQ:SWAV)

ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) – Research analysts at SVB Leerink lowered their Q3 2022 earnings estimates for ShockWave Medical in a report released on Monday, May 9th. SVB Leerink analyst D. Antalffy now anticipates that the company will post earnings of $0.48 per share for the quarter, down from their previous forecast of $0.54. SVB Leerink has a “Outperform” rating and a $190.00 price target on the stock. SVB Leerink also issued estimates for ShockWave Medical’s Q4 2022 earnings at $0.61 EPS, FY2023 earnings at $2.60 EPS and FY2024 earnings at $3.49 EPS.

SWAV has been the subject of several other research reports. Bank of America assumed coverage on shares of ShockWave Medical in a research report on Wednesday, March 2nd. They issued a “buy” rating for the company. Canaccord Genuity Group lowered their price objective on shares of ShockWave Medical from $221.00 to $190.00 in a research report 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 report on Wednesday, January 12th. Morgan Stanley lowered 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 report on Friday, February 18th. Finally, Wells Fargo & Company lowered their price objective on shares of ShockWave Medical from $235.00 to $176.00 in a research report on Tuesday. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $212.89.

SWAV opened at $137.05 on Thursday. The company has a 50-day moving average of $179.70 and a 200-day moving average of $178.95. The company has a market capitalization of $4.90 billion, a P/E ratio of -456.83 and a beta of 1.50. ShockWave Medical has a 1-year low of $113.36 and a 1-year high of $249.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.71 and a current ratio of 5.54.

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

Several large investors have recently modified their holdings of SWAV. Allspring Global Investments Holdings LLC acquired a new stake in shares of ShockWave Medical in the 4th quarter worth approximately $168,314,000. Invesco Ltd. lifted its stake in ShockWave Medical by 116.1% during the third quarter. Invesco Ltd. now owns 1,310,949 shares of the company’s stock valued at $269,897,000 after purchasing an additional 704,446 shares during the last quarter. Victory Capital Management Inc. lifted its stake in ShockWave Medical by 3,507.0% during the fourth quarter. Victory Capital Management Inc. now owns 261,324 shares of the company’s stock valued at $46,601,000 after purchasing an additional 254,079 shares during the last quarter. Jennison Associates LLC lifted its stake in ShockWave Medical by 98.5% during the first quarter. Jennison Associates LLC now owns 433,534 shares of the company’s stock valued at $89,898,000 after purchasing an additional 215,142 shares during the last quarter. Finally, Morgan Stanley lifted its stake in ShockWave Medical by 113.8% during the second quarter. Morgan Stanley now owns 354,403 shares of the company’s stock valued at $67,241,000 after purchasing an additional 188,626 shares during the last quarter. 89.06% of the stock is owned by institutional investors.

In other news, insider Isaac Zacharias sold 619 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $160.36, for a total value of $99,262.84. Following the completion of the sale, the insider now directly owns 65,221 shares of the company’s stock, valued at approximately $10,458,839.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Trinh Phung sold 3,176 shares of the company’s stock in a transaction that occurred on Tuesday, April 12th. The stock was sold at an average price of $215.61, for a total transaction of $684,777.36. Following the completion of the sale, the vice president now directly owns 29,695 shares of the company’s stock, valued at $6,402,538.95. The disclosure for this sale can be found here. Insiders have sold a total of 99,242 shares of company stock valued at $16,799,585 over the last three months. 15.30% of the stock is currently owned by company insiders.

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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