Louisiana State Employees Retirement System Makes New $1.98 Million Investment in Shockwave Medical, Inc. (NASDAQ:SWAV)

Louisiana State Employees Retirement System acquired a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,400 shares of the company’s stock, valued at approximately $1,982,000.

Other institutional investors have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in Shockwave Medical by 64.8% during the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares during the period. EverSource Wealth Advisors LLC boosted its position in Shockwave Medical by 297.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares during the period. PenderFund Capital Management Ltd. acquired a new stake in Shockwave Medical during the 1st quarter worth about $41,000. Asset Management One Co. Ltd. acquired a new stake in Shockwave Medical during the 4th quarter worth about $34,000. Finally, Operose Advisors LLC acquired a new stake in Shockwave Medical during the 3rd quarter worth about $49,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Shockwave Medical Price Performance

SWAV opened at $327.50 on Thursday. The business has a 50 day moving average price of $282.20 and a 200 day moving average price of $227.08. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $331.58. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The firm has a market cap of $12.25 billion, a P/E ratio of 84.63, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The firm had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. During the same period in the previous year, the company earned $3.71 EPS. The company’s revenue for the quarter was up 41.0% on a year-over-year basis. Research analysts forecast that Shockwave Medical, Inc. will post 4.94 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. SVB Leerink reaffirmed a “market perform” rating and issued a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Shockwave Medical currently has an average rating of “Hold” and a consensus target price of $309.11.

Insiders Place Their Bets

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $224.69, for a total value of $898,760.00. Following the transaction, the insider now directly owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $224.69, for a total value of $898,760.00. Following the transaction, the insider now directly owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dan Puckett sold 3,406 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the transaction, the chief financial officer now directly owns 27,732 shares in the company, valued at $6,371,704.32. The disclosure for this sale can be found here. Insiders have sold a total of 93,813 shares of company stock valued at $23,762,679 in the last three months. Company insiders own 3.40% of the company’s stock.

About Shockwave Medical

Shockwave Medical, Inc, a medical device company, develops and commercializes 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 used in 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 used for IVL System in large diameter vessels.