Q3 2024 EPS Estimates for Shockwave Medical, Inc. Cut by Analyst (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV) – Leerink Partnrs dropped their Q3 2024 EPS estimates for shares of Shockwave Medical in a report released on Thursday, March 28th. Leerink Partnrs analyst M. Kratky now expects that the company will post earnings of $1.58 per share for the quarter, down from their prior forecast 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 released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping 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 the consensus estimate of $199.43 million. During the same period in the previous year, the firm earned $3.71 EPS. Shockwave Medical’s revenue was up 41.0% on a year-over-year basis.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC increased their price objective on shares of Shockwave Medical from $260.00 to $286.00 and gave the stock a “buy” rating in a report on Friday, February 16th. CL King began coverage on shares of Shockwave Medical in a research report on Wednesday. They issued a “buy” rating and a $368.00 price objective on the stock. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Morgan Stanley reduced their target price on shares of Shockwave Medical from $284.00 to $223.00 and set an “overweight” rating for the company in a research report on Monday, December 4th. Finally, Piper Sandler upped their price objective on shares of Shockwave Medical from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.44.

Shockwave Medical Stock Performance

Shockwave Medical stock opened at $325.63 on Friday. The company has a market cap of $12.18 billion, a P/E ratio of 84.14, a price-to-earnings-growth ratio of 2.73 and a beta of 0.90. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The firm’s 50 day simple moving average is $254.81 and its 200-day simple moving average is $215.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73.

Hedge Funds Weigh In On Shockwave Medical

Institutional investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in shares of Shockwave Medical by 3.3% during the 1st quarter. Harbour Investments Inc. now owns 1,300 shares of the company’s stock worth $282,000 after acquiring an additional 41 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of Shockwave Medical by 1.4% in the 1st quarter. Snowden Capital Advisors LLC now owns 3,035 shares of the company’s stock valued at $658,000 after buying an additional 43 shares during the period. Robbins Farley boosted its position in Shockwave Medical by 1.0% during the fourth quarter. Robbins Farley now owns 4,542 shares of the company’s stock worth $866,000 after purchasing an additional 45 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Shockwave Medical by 3.8% during the fourth quarter. Parallel Advisors LLC now owns 1,268 shares of the company’s stock valued at $242,000 after acquiring an additional 47 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Shockwave Medical by 11.5% during the third quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Insider Buying and Selling

In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the sale, the chief financial officer now directly owns 27,732 shares of the company’s stock, valued at $6,371,704.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the transaction, the chief financial officer now owns 27,732 shares of the company’s stock, valued at $6,371,704.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $200.05, for a total value of $2,000,500.00. Following the completion of the transaction, the chief executive officer now directly owns 141,057 shares in the company, valued at approximately $28,218,452.85. 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 ninety days. Company insiders own 3.40% 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.