Shockwave Medical (NASDAQ:SWAV) Issues Earnings Results, Beats Expectations By $0.45 EPS

Shockwave Medical (NASDAQ:SWAV) announced its quarterly earnings data on Monday. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $0.99 by $0.45, Briefing.com reports. The company had revenue of $218.80 million for the quarter, compared to the consensus estimate of $207.69 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. Shockwave Medical’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS.

Shockwave Medical Price Performance

NASDAQ:SWAV opened at $330.00 on Tuesday. The company has a market capitalization of $12.38 billion, a P/E ratio of 85.27, a P/E/G ratio of 2.46 and a beta of 0.88. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. Shockwave Medical has a 52 week low of $157.00 and a 52 week high of $331.58. The stock’s fifty day moving average is $303.04 and its two-hundred day moving average is $239.12.

Insider Activity at Shockwave Medical

In related news, VP Trinh Phung sold 599 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the sale, the vice president now owns 31,031 shares in the company, valued at approximately $8,044,476.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Trinh Phung sold 599 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the transaction, the vice president now owns 31,031 shares of the company’s stock, valued at $8,044,476.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical 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 completion of the transaction, the chief executive officer now owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,120 shares of company stock worth $21,319,021. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

SWAV has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $335.00 price objective (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Canaccord Genuity Group restated a “hold” rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $309.11.

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.