Leerink Partnrs Weighs in on Shockwave Medical, Inc.’s Q3 2024 Earnings (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV) – Leerink Partnrs cut their Q3 2024 EPS estimates for Shockwave Medical in a research report issued on Thursday, March 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings of $1.58 per share for the quarter, down from their prior estimate of $1.60. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.89 per share. Leerink Partnrs also issued estimates for Shockwave Medical’s Q1 2025 earnings at $1.82 EPS, Q2 2025 earnings at $1.79 EPS, Q3 2025 earnings at $1.70 EPS, Q4 2025 earnings at $1.87 EPS and FY2028 earnings at $11.48 EPS.

Shockwave Medical (NASDAQ:SWAV) last issued its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company had revenue of $202.98 million for the quarter, compared to analysts’ expectations of $199.43 million. During the same period in the prior year, the firm earned $3.71 EPS. Shockwave Medical’s quarterly revenue was up 41.0% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley dropped their price objective on shares of Shockwave Medical from $284.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, December 4th. Piper Sandler lifted their target price on shares of Shockwave Medical from $275.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. CL King assumed coverage on shares of Shockwave Medical in a report on Wednesday. They issued a “buy” rating and a $368.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.44.

Shockwave Medical Stock Performance

Shares of NASDAQ:SWAV opened at $325.63 on Friday. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. The firm has a market cap of $12.18 billion, a PE ratio of 84.14, a PEG ratio of 2.73 and a beta of 0.90. The company’s 50 day moving average price is $254.81 and its two-hundred day moving average price is $215.40. Shockwave Medical has a 12-month low of $157.00 and a 12-month high of $331.58.

Insider Activity

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total value of $298,815.66. Following the completion of the transaction, the vice president now owns 32,933 shares of the company’s stock, valued at approximately $7,646,383.94. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Trinh Phung sold 1,287 shares of the company’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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Puckett sold 3,406 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total transaction of $782,562.56. Following the completion of the transaction, the chief financial officer now owns 27,732 shares of the company’s stock, valued at $6,371,704.32. The disclosure for this sale can be found here. Insiders have sold a total of 115,813 shares of company stock valued at $28,337,059 over the last quarter. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Shockwave Medical

Several institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its stake in Shockwave Medical by 1.8% during the 1st quarter. Raymond James & Associates now owns 4,644 shares of the company’s stock worth $963,000 after acquiring an additional 81 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Shockwave Medical by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company’s stock worth $31,361,000 after purchasing an additional 3,771 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Shockwave Medical by 1.5% during the first quarter. Rhumbline Advisers now owns 35,441 shares of the company’s stock worth $7,349,000 after purchasing an additional 526 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Shockwave Medical in the first quarter valued at about $407,000. Finally, Canada Pension Plan Investment Board raised its holdings in Shockwave Medical by 36.3% in the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock worth $166,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 95.35% of the company’s stock.

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.