Zurcher Kantonalbank Zurich Cantonalbank Has $1.55 Million Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,133 shares of the company’s stock after buying an additional 917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shockwave Medical were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in Shockwave Medical by 3.8% during the third quarter. FMR LLC now owns 2,527,893 shares of the company’s stock worth $503,303,000 after buying an additional 92,919 shares during the last quarter. Wellington Management Group LLP increased its holdings in Shockwave Medical by 33.5% during the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock worth $359,529,000 after buying an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Shockwave Medical by 21.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock worth $278,369,000 after buying an additional 250,352 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Shockwave Medical by 35.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 645,634 shares of the company’s stock worth $128,546,000 after buying an additional 170,369 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Shockwave Medical by 66.7% during the third quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company’s stock worth $76,917,000 after buying an additional 154,637 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Shockwave Medical Trading Up 0.0 %

Shares of Shockwave Medical stock opened at $328.99 on Friday. The firm has a 50-day moving average of $293.53 and a 200-day moving average of $232.36. The stock has a market cap of $12.30 billion, a PE ratio of 85.01, a PEG ratio of 2.44 and a beta of 0.92. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week 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.

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

Wall Street Analyst Weigh In

SWAV has been the topic of a number of recent analyst reports. Canaccord Genuity Group restated a “hold” rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Needham & Company LLC reiterated a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Finally, Piper Sandler upped their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.11.

Insider Buying and Selling

In related news, Director Frederic H. Moll sold 60,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $74,005,030.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frederic H. Moll sold 60,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $74,005,030.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The disclosure for this sale can be found here. Insiders sold 89,813 shares of company stock valued at $22,863,919 over the last quarter. 3.40% of the stock is owned by company insiders.

Shockwave Medical 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.