Cerity Partners LLC Buys Shares of 1,867 Shockwave Medical, Inc. (NASDAQ:SWAV)

Cerity Partners LLC bought a new stake in Shockwave Medical, Inc. (NASDAQ:SWAV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,867 shares of the company’s stock, valued at approximately $356,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in shares of Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Shockwave Medical by 297.4% during the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after buying an additional 116 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Shockwave Medical during the fourth quarter valued at approximately $34,000. Operose Advisors LLC bought a new stake in shares of Shockwave Medical during the third quarter valued at approximately $49,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Shockwave Medical during the third quarter valued at approximately $82,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Shockwave Medical Price Performance

NASDAQ SWAV opened at $330.00 on Friday. The stock has a market capitalization of $12.34 billion, a P/E ratio of 85.27, a P/E/G ratio of 2.44 and a beta of 0.92. Shockwave Medical, Inc. has a 1 year low of $157.00 and a 1 year high of $331.58. The business’s fifty day moving average is $294.88 and its two-hundred day moving average is $233.25. 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 posted its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.24. The company had revenue of $202.98 million for the quarter, compared to analysts’ expectations of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The firm’s revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.71 earnings per share. On average, research analysts forecast that Shockwave Medical, Inc. will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the transaction, the vice president now directly owns 32,933 shares in the company, valued at approximately $7,646,383.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Douglas Evan Godshall sold 10,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the transaction, the chief executive officer now directly owns 162,762 shares in the company, valued at approximately $37,689,168.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Trinh Phung sold 1,287 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the transaction, the vice president now owns 32,933 shares in the company, valued at $7,646,383.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,813 shares of company stock worth $22,863,919. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SWAV shares. Wells Fargo & Company boosted their target price on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Canaccord Genuity Group reissued a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Piper Sandler boosted their target price on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, CL King reissued a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Shockwave Medical presently has an average rating of “Hold” and a consensus price target of $309.11.

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.