Shockwave Medical, Inc. (NASDAQ:SWAV) Expected to Post Q3 2024 Earnings of $1.20 Per Share

Shockwave Medical, Inc. (NASDAQ:SWAV) – Research analysts at Zacks Research lifted their Q3 2024 earnings estimates for Shockwave Medical in a note issued to investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings per share of $1.20 for the quarter, up from their previous estimate of $1.11. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for Shockwave Medical’s Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.40 EPS and FY2025 earnings at $5.99 EPS.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company posted $3.71 earnings per share.

Other equities analysts have also issued research reports about the stock. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler increased their price objective 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. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 price objective (up previously from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Stock Performance

SWAV opened at $327.52 on Thursday. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 2.43 and a beta of 0.92. The company has a fifty day moving average of $282.20 and a 200 day moving average of $227.08. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two 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.

Hedge Funds Weigh In On Shockwave Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of Shockwave Medical by 36.8% in the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock valued at $470,763,000 after purchasing an additional 664,648 shares during the period. Norges Bank purchased a new position in Shockwave Medical in the fourth quarter worth approximately $104,982,000. JPMorgan Chase & Co. lifted its stake in Shockwave Medical by 57.9% in the first quarter. JPMorgan Chase & Co. now owns 1,273,747 shares of the company’s stock worth $276,185,000 after acquiring an additional 467,237 shares during the last quarter. State Street Corp lifted its stake in Shockwave Medical by 56.5% in the second quarter. State Street Corp now owns 1,125,735 shares of the company’s stock worth $215,207,000 after acquiring an additional 406,327 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Shockwave Medical by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,394,767 shares of the company’s stock worth $302,428,000 after acquiring an additional 382,374 shares during the last quarter. 95.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Shockwave Medical

In related news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the sale, the insider now owns 56,818 shares in the company, valued at approximately $16,344,834.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 owns 56,818 shares in the company, valued at approximately $16,344,834.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dan Puckett sold 3,406 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $229.76, for a total transaction of $782,562.56. Following the transaction, the chief financial officer now owns 27,732 shares in the company, valued at approximately $6,371,704.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,813 shares of company stock worth $23,762,679. 3.40% of the stock is currently owned by insiders.

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.