LPL Financial LLC Has $5.26 Million Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

LPL Financial LLC reduced its stake in Shockwave Medical, Inc. (NASDAQ:SWAV) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,251 shares of the company’s stock after selling 1,166 shares during the period. LPL Financial LLC owned about 0.07% of Shockwave Medical worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of Shockwave Medical by 2.1% in the 1st quarter. Fifth Third Bancorp now owns 2,001 shares of the company’s stock valued at $434,000 after purchasing an additional 41 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Shockwave Medical by 2.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,186 shares of the company’s stock worth $449,000 after buying an additional 49 shares during the period. Kovack Advisors Inc. boosted its position in Shockwave Medical by 3.6% during the 1st quarter. Kovack Advisors Inc. now owns 1,665 shares of the company’s stock worth $361,000 after buying an additional 58 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Shockwave Medical by 1.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,210 shares of the company’s stock worth $866,000 after buying an additional 77 shares during the period. Finally, Raymond James & Associates boosted its position in Shockwave Medical by 1.8% during the 1st quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock worth $963,000 after buying an additional 81 shares during the period. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SWAV shares. Piper Sandler lifted their target price on shares of Shockwave Medical from $280.00 to $315.00 in a research report on Tuesday, May 9th. Needham & Company LLC lifted their target price on shares of Shockwave Medical from $325.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. TheStreet downgraded shares of Shockwave Medical from a “b-” rating to a “c+” rating in a research report on Thursday, August 10th. Morgan Stanley cut their target price on shares of Shockwave Medical from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Thursday, August 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Shockwave Medical from $285.00 to $310.00 in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $276.38.

Shockwave Medical Trading Down 1.0 %

SWAV opened at $220.39 on Friday. The company has a current ratio of 5.69, a quick ratio of 4.54 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $253.46 and a two-hundred day moving average price of $249.34. The company has a market cap of $8.10 billion, a P/E ratio of 34.33, a price-to-earnings-growth ratio of 46.76 and a beta of 0.95. Shockwave Medical, Inc. has a 1-year low of $172.50 and a 1-year high of $320.54.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.09). The company had revenue of $180.17 million for the quarter, compared to analyst estimates of $173.79 million. Shockwave Medical had a net margin of 39.56% and a return on equity of 47.48%. Shockwave Medical’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Analysts predict that Shockwave Medical, Inc. will post 3.61 EPS for the current fiscal year.

Insider Activity at Shockwave Medical

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $204.98, for a total transaction of $819,920.00. Following the transaction, the insider now directly owns 52,446 shares in the company, valued at approximately $10,750,381.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $204.98, for a total value of $819,920.00. Following the completion of the sale, the insider now owns 52,446 shares in the company, valued at $10,750,381.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $214.62, for a total transaction of $2,146,200.00. Following the transaction, the chief executive officer now directly owns 141,649 shares in the company, valued at $30,400,708.38. The disclosure for this sale can be found here. Insiders have sold a total of 31,162 shares of company stock valued at $7,568,370 over the last 90 days. Insiders own 3.40% of the company’s stock.

Shockwave Medical Company Profile

ShockWave Medical, Inc, a medical device company, develops intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters for use in our IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter for use in IVL System in large diameter vessels.