Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC decreased its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,052 shares of the company’s stock after selling 5,578 shares during the quarter. Geneva Capital Management LLC owned approximately 0.10% of Shockwave Medical worth $6,870,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC raised its position in Shockwave Medical by 64.8% in the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after acquiring an additional 116 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Shockwave Medical during the 4th quarter valued at approximately $34,000. Operose Advisors LLC acquired a new stake in Shockwave Medical during the 3rd quarter worth approximately $49,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Shockwave Medical in the 3rd quarter valued at approximately $82,000. 95.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SWAV. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Wells Fargo & Company raised their price target on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. SVB Leerink reiterated a “market perform” rating and issued a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Piper Sandler raised their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $309.11.

Insider Activity

In other news, VP Trinh Phung sold 599 shares of the stock in a transaction 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 of the company’s stock, valued at $8,044,476.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the 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 transaction, the insider now owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Trinh Phung sold 599 shares of the business’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 sale, the vice president now owns 31,031 shares of the company’s stock, valued at $8,044,476.44. The disclosure for this sale can be found here. Insiders sold a total of 83,120 shares of company stock valued at $21,319,021 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Shockwave Medical Price Performance

Shares of SWAV stock traded up $0.15 during trading hours on Friday, hitting $330.69. The company’s stock had a trading volume of 210,275 shares, compared to its average volume of 915,867. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $331.58. The business has a fifty day moving average of $307.14 and a 200-day moving average of $241.29. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 77.27, a P/E/G ratio of 2.46 and a beta of 0.88.

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

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.