Mirae Asset Global Investments Co. Ltd. Grows Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,566 shares of the company’s stock after acquiring an additional 150 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Shockwave Medical were worth $3,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Profund Advisors LLC raised its holdings in shares of Shockwave Medical by 1.9% in the 3rd quarter. Profund Advisors LLC now owns 2,386 shares of the company’s stock valued at $663,000 after acquiring an additional 45 shares in the last quarter. Signaturefd LLC increased its position in shares of Shockwave Medical by 14.2% during the 3rd quarter. Signaturefd LLC now owns 362 shares of the company’s stock valued at $101,000 after purchasing an additional 45 shares during the last quarter. Fulton Bank N.A. increased its position in shares of Shockwave Medical by 5.7% during the 4th quarter. Fulton Bank N.A. now owns 1,020 shares of the company’s stock valued at $209,000 after purchasing an additional 55 shares during the last quarter. Lincoln National Corp increased its position in shares of Shockwave Medical by 5.5% during the 3rd quarter. Lincoln National Corp now owns 1,149 shares of the company’s stock valued at $319,000 after purchasing an additional 60 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Shockwave Medical by 0.7% during the 3rd quarter. Arizona State Retirement System now owns 9,726 shares of the company’s stock valued at $2,705,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 90.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SWAV shares. TheStreet upgraded Shockwave Medical from a “c” rating to a “b-” rating in a research report on Friday, March 10th. Bank of America increased their price objective on Shockwave Medical from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Canaccord Genuity Group raised their price target on Shockwave Medical from $247.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Piper Sandler raised their price target on Shockwave Medical from $280.00 to $315.00 in a research report on Tuesday, May 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Shockwave Medical from $285.00 to $310.00 in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Shockwave Medical currently has an average rating of “Moderate Buy” and a consensus price target of $266.33.

Insider Activity

In other news, VP Trinh Phung sold 1,828 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $300.00, for a total value of $548,400.00. Following the completion of the transaction, the vice president now owns 21,341 shares in the company, valued at approximately $6,402,300. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Shockwave Medical news, Director Frank T. Watkins sold 3,000 shares of Shockwave Medical stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $278.32, for a total transaction of $834,960.00. Following the completion of the transaction, the director now owns 3,796 shares in the company, valued at $1,056,502.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Trinh Phung sold 1,828 shares of Shockwave Medical stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $300.00, for a total value of $548,400.00. Following the transaction, the vice president now owns 21,341 shares of the company’s stock, valued at approximately $6,402,300. The disclosure for this sale can be found here. Insiders sold a total of 27,466 shares of company stock worth $6,763,029 in the last quarter. 3.40% of the stock is owned by company insiders.

Shockwave Medical Price Performance

Shares of SWAV stock opened at $281.50 on Thursday. The firm has a market cap of $10.30 billion, a P/E ratio of 44.40, a P/E/G ratio of 24.97 and a beta of 0.99. Shockwave Medical, Inc. has a fifty-two week low of $154.45 and a fifty-two week high of $320.54. The business’s 50 day moving average price is $255.34 and its 200-day moving average price is $226.43. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.57 and a current ratio of 4.16.

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