Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,340 shares of the company’s stock after selling 50 shares during the quarter. New York Life Investment Management LLC’s holdings in Shockwave Medical were worth $827,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SWAV. Wellington Management Group LLP boosted its position 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 acquiring an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of 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 purchasing an additional 250,352 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 purchasing an additional 170,369 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Shockwave Medical by 66.7% in the third quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company’s stock valued at $76,917,000 after purchasing an additional 154,637 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Shockwave Medical by 18,122.1% in the fourth quarter. International Assets Investment Management LLC now owns 141,586 shares of the company’s stock valued at $26,981,000 after purchasing an additional 140,809 shares during the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Insider Activity

In other Shockwave Medical 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 value of $2,315,600.00. Following the transaction, the chief executive officer now owns 162,762 shares in the company, valued at approximately $37,689,168.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value 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 $37,689,168.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Trinh Phung sold 599 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the transaction, the vice president now directly owns 31,031 shares of the company’s stock, valued at $8,044,476.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,120 shares of company stock worth $21,319,021. 3.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on SWAV. Morgan Stanley restated an “equal weight” rating and issued a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target 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. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Price Performance

Shares of NASDAQ SWAV opened at $330.63 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. Shockwave Medical, Inc. has a 1-year low of $157.00 and a 1-year high of $331.58. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.46 and a beta of 0.88. The business has a 50-day moving average of $305.74 and a 200-day moving average of $240.67.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.99 by $0.45. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same period in the previous year, the company posted $1.03 EPS. Shockwave Medical’s revenue for the quarter was up 35.8% on a year-over-year basis. On average, equities analysts anticipate that Shockwave Medical, Inc. will post 4.94 EPS for the current fiscal year.

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.