California Public Employees Retirement System Lowers Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

California Public Employees Retirement System reduced its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 52,821 shares of the company’s stock after selling 1,738 shares during the period. California Public Employees Retirement System’s holdings in Shockwave Medical were worth $10,066,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SWAV. Jennison Associates LLC raised its stake in Shockwave Medical by 13.1% during the fourth quarter. Jennison Associates LLC now owns 100,551 shares of the company’s stock worth $19,161,000 after purchasing an additional 11,651 shares during the period. Cetera Trust Company N.A purchased a new position in shares of Shockwave Medical in the 4th quarter worth $152,000. Handelsbanken Fonder AB boosted its holdings in Shockwave Medical by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 7,100 shares of the company’s stock valued at $1,353,000 after acquiring an additional 700 shares during the last quarter. Robbins Farley grew its position in Shockwave Medical by 1.0% during the fourth quarter. Robbins Farley now owns 4,542 shares of the company’s stock valued at $866,000 after acquiring an additional 45 shares during the period. Finally, Federated Hermes Inc. increased its stake in Shockwave Medical by 8.8% during the fourth quarter. Federated Hermes Inc. now owns 4,479 shares of the company’s stock worth $854,000 after acquiring an additional 364 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Shockwave Medical

In other Shockwave Medical news, Director Frank T. Watkins sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $231.76, for a total transaction of $463,520.00. Following the sale, the director now owns 4,532 shares in the company, valued at $1,050,336.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Shockwave Medical news, Director Frank T. Watkins sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $231.76, for a total value of $463,520.00. Following the transaction, the director now owns 4,532 shares of the company’s stock, valued at $1,050,336.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Trinh Phung sold 1,287 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total value of $298,815.66. Following the completion of the sale, the vice president now directly owns 32,933 shares in the company, valued at approximately $7,646,383.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,407 shares of company stock valued at $22,081,356. Insiders own 3.40% of the company’s stock.

Shockwave Medical Stock Down 0.1 %

Shares of NASDAQ SWAV opened at $329.84 on Thursday. 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, Inc. has a 1 year low of $157.00 and a 1 year high of $331.58. The stock’s 50-day simple moving average is $299.06 and its 200-day simple moving average is $236.28. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 85.23, a PEG ratio of 2.45 and a beta of 0.92.

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 firm had revenue of $202.98 million for 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%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.71 earnings per share. As a group, equities analysts anticipate that Shockwave Medical, Inc. will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SWAV has been the topic of several research analyst reports. Leerink Partnrs lowered Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, SVB Leerink reissued a “market perform” rating and issued a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company 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.