Principal Financial Group Inc. Grows Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Principal Financial Group Inc. boosted its stake in Shockwave Medical, Inc. (NASDAQ:SWAV) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,089 shares of the company’s stock after acquiring an additional 3,196 shares during the period. Principal Financial Group Inc.’s holdings in Shockwave Medical were worth $28,601,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SWAV. Venturi Wealth Management LLC bought a new stake in Shockwave Medical in the third quarter worth about $82,000. EFG Asset Management North America Corp. raised its position in Shockwave Medical by 2.1% in the third quarter. EFG Asset Management North America Corp. now owns 17,023 shares of the company’s stock worth $3,390,000 after acquiring an additional 357 shares during the period. Signaturefd LLC raised its position in Shockwave Medical by 79.1% in the third quarter. Signaturefd LLC now owns 471 shares of the company’s stock worth $94,000 after acquiring an additional 208 shares during the period. EverSource Wealth Advisors LLC raised its position in Shockwave Medical by 297.4% in the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares during the period. Finally, Lincoln National Corp raised its position in Shockwave Medical by 8.8% in the third quarter. Lincoln National Corp now owns 1,274 shares of the company’s stock worth $254,000 after acquiring an additional 103 shares during the period. Institutional investors own 95.35% of the company’s stock.

Insiders Place Their Bets

In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the transaction, the insider now directly owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. Insiders sold a total of 72,120 shares of company stock valued at $18,753,421 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

SWAV has been the topic of several research reports. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Morgan Stanley reissued an “equal weight” rating and issued a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler boosted their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. SVB Leerink reissued a “market perform” rating and issued a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Stock Performance

Shockwave Medical stock opened at $330.13 on Friday. The firm’s 50 day simple moving average is $316.05 and its 200 day simple moving average is $246.43. The company has a current ratio of 13.81, a quick ratio of 12.61 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $12.39 billion, a PE ratio of 77.13, a price-to-earnings-growth ratio of 2.41 and a beta of 0.88. Shockwave Medical, Inc. has a 1-year low of $157.00 and a 1-year high of $331.58.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The business had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $207.69 million. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. As a group, analysts expect that Shockwave Medical, Inc. will post 5.03 earnings per share for the current fiscal year.

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.