Belpointe Asset Management LLC Invests $113,000 in Shockwave Medical, Inc. (NASDAQ:SWAV)

Posted by Defense World Staff on May 19th, 2023

Belpointe Asset Management LLC bought a new position in Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 550 shares of the company’s stock, valued at approximately $113,000.

Other institutional investors have also recently made changes to their positions in the company. Anfield Capital Management LLC bought a new position in shares of Shockwave Medical in the 4th quarter worth approximately $38,000. Trifecta Capital Advisors LLC purchased a new stake in shares of Shockwave Medical in the 4th quarter worth approximately $41,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Shockwave Medical in the 1st quarter worth approximately $41,000. Altshuler Shaham Ltd purchased a new stake in shares of Shockwave Medical in the 3rd quarter worth approximately $58,000. Finally, IFP Advisors Inc grew its stake in shares of Shockwave Medical by 15.1% in the 3rd quarter. IFP Advisors Inc now owns 1,536 shares of the company’s stock worth $64,000 after buying an additional 201 shares during the last quarter. Institutional investors own 90.56% of the company’s stock.

Insider Transactions at Shockwave Medical

In other news, Director Sara Toyloy sold 235 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $296.28, for a total value of $69,625.80. Following the transaction, the director now directly owns 3,037 shares in the company, valued at approximately $899,802.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Trinh Phung sold 640 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $188.09, for a total value of $120,377.60. Following the transaction, the vice president now directly owns 23,879 shares of the company’s stock, valued at approximately $4,491,401.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sara Toyloy sold 235 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $296.28, for a total value of $69,625.80. Following the completion of the transaction, the director now directly owns 3,037 shares in the company, valued at $899,802.36. The disclosure for this sale can be found here. Insiders have sold a total of 59,930 shares of company stock worth $12,615,072 in the last ninety days. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SWAV shares. TheStreet upgraded Shockwave Medical from a “c” rating to a “b-” rating in a research note on Friday, March 10th. Piper Sandler upped their price target on Shockwave Medical from $280.00 to $315.00 in a research note on Tuesday, May 9th. Wells Fargo & Company upped their price target on Shockwave Medical from $252.00 to $275.00 in a research note on Tuesday, May 9th. Bank of America upped their price target on Shockwave Medical from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Finally, VNET Group reiterated a “maintains” rating on shares of Shockwave Medical in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $266.33.

Shockwave Medical Stock Performance

Shares of SWAV opened at $276.60 on Friday. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 43.63, a P/E/G ratio of 25.18 and a beta of 0.99. Shockwave Medical, Inc. has a 12 month low of $147.12 and a 12 month high of $320.54. The company has a current ratio of 4.16, a quick ratio of 3.57 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $248.50 and its two-hundred day simple moving average is $227.00.

Shockwave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings results on Monday, May 8th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.22. The firm had revenue of $161.10 million for the quarter, compared to the consensus estimate of $147.30 million. Shockwave Medical had a return on equity of 55.22% and a net margin of 43.18%. The company’s revenue for the quarter was up 72.1% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. Research analysts anticipate that Shockwave Medical, Inc. will post 4.03 earnings per share for the current fiscal year.

Shockwave Medical Company 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.