MML Investors Services LLC Takes $221,000 Position in ShockWave Medical, Inc. (NASDAQ:SWAV)

MML Investors Services LLC acquired a new stake in ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 795 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tobam purchased a new stake in ShockWave Medical during the third quarter valued at about $32,000. PenderFund Capital Management Ltd. purchased a new stake in ShockWave Medical during the first quarter valued at about $41,000. Altshuler Shaham Ltd purchased a new stake in ShockWave Medical during the third quarter valued at about $58,000. Sentry Investment Management LLC purchased a new stake in ShockWave Medical during the third quarter valued at about $64,000. Finally, IFP Advisors Inc grew its position in ShockWave Medical by 15.1% during the third quarter. IFP Advisors Inc now owns 1,536 shares of the company’s stock valued at $64,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 90.56% of the company’s stock.

ShockWave Medical Price Performance

Shares of SWAV opened at $182.36 on Friday. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 31.99 and a beta of 0.97. The stock has a 50 day moving average of $191.20 and a 200-day moving average of $237.51. The company has a current ratio of 7.25, a quick ratio of 6.06 and a debt-to-equity ratio of 0.05. ShockWave Medical, Inc. has a 52 week low of $113.36 and a 52 week high of $320.54.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $3.71 EPS for the quarter, topping the consensus estimate of $0.99 by $2.72. The company had revenue of $144.00 million during the quarter, compared to analyst estimates of $143.04 million. ShockWave Medical had a return on equity of 59.99% and a net margin of 44.10%. The business’s revenue was up 71.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, analysts forecast that ShockWave Medical, Inc. will post 3.92 EPS for the current year.

Wall Street Analyst Weigh In

SWAV has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on ShockWave Medical in a research note on Friday, December 16th. They set a “buy” rating and a $285.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on ShockWave Medical from $247.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Wells Fargo & Company boosted their price objective on ShockWave Medical from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research note on Friday, February 17th. Piper Sandler reduced their price objective on ShockWave Medical from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, January 26th. Finally, Morgan Stanley reduced their price objective on ShockWave Medical from $290.00 to $224.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, ShockWave Medical currently has an average rating of “Moderate Buy” and an average price target of $248.22.

Insider Activity at ShockWave Medical

In related news, VP Trinh Phung sold 941 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $187.23, for a total transaction of $176,183.43. Following the completion of the transaction, the vice president now owns 25,740 shares in the company, valued at approximately $4,819,300.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ShockWave Medical news, VP Trinh Phung sold 941 shares of ShockWave Medical stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $187.23, for a total transaction of $176,183.43. Following the sale, the vice president now owns 25,740 shares of the company’s stock, valued at approximately $4,819,300.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction on Monday, February 27th. The shares were sold at an average price of $188.51, for a total value of $754,040.00. Following the sale, the insider now directly owns 64,619 shares in the company, valued at approximately $12,181,327.69. The disclosure for this sale can be found here. Insiders sold 65,678 shares of company stock worth $12,616,643 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

ShockWave Medical Profile

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Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm offers M5 catheters for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters or treating below-the-knee peripheral artery disease.