Shockwave Medical, Inc. (NASDAQ:SWAV) Forecasted to Earn Q1 2024 Earnings of $0.98 Per Share

Shockwave Medical, Inc. (NASDAQ:SWAV) – Analysts at Zacks Research increased their Q1 2024 earnings estimates for shares of Shockwave Medical in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will earn $0.98 per share for the quarter, up from their previous forecast of $0.92. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.90 per share. Zacks Research also issued estimates for Shockwave Medical’s Q2 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $4.83 EPS, Q3 2025 earnings at $1.51 EPS, Q4 2025 earnings at $1.83 EPS, Q1 2026 earnings at $1.60 EPS and FY2026 earnings at $7.34 EPS.

SWAV has been the topic of a number of other reports. SVB Leerink reaffirmed a “market perform” rating and issued a $335.00 price target (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $335.00 price target (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Stock Performance

Shares of Shockwave Medical stock opened at $327.50 on Wednesday. The firm has a market capitalization of $12.25 billion, a PE ratio of 84.63, a P/E/G ratio of 2.45 and a beta of 0.92. Shockwave Medical has a twelve month low of $157.00 and a twelve month high of $331.58. The firm’s 50-day moving average price is $282.20 and its 200 day moving average price is $227.08. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09.

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

Institutional Trading of Shockwave Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Shockwave Medical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock valued at $692,442,000 after purchasing an additional 33,539 shares during the last quarter. FMR LLC increased its holdings in Shockwave Medical by 3.8% in the 3rd quarter. FMR LLC now owns 2,527,893 shares of the company’s stock valued at $503,303,000 after purchasing an additional 92,919 shares during the last quarter. Wellington Management Group LLP increased its holdings in Shockwave Medical by 36.8% in the 4th quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock valued at $470,763,000 after purchasing an additional 664,648 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Shockwave Medical by 7.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock valued at $284,981,000 after purchasing an additional 97,356 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Shockwave Medical by 16.0% in the 1st quarter. Invesco Ltd. now owns 1,398,211 shares of the company’s stock valued at $289,933,000 after purchasing an additional 192,525 shares during the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Insider Buying and Selling at Shockwave Medical

In other news, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the completion of the sale, the director now owns 287,521 shares in the company, valued at approximately $74,005,030.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the completion of the sale, the director now owns 287,521 shares in the company, valued at approximately $74,005,030.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the sale, the director now owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,813 shares of company stock worth $23,762,679. Insiders own 3.40% of the company’s stock.

Shockwave Medical Company Profile

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.