Shockwave Medical, Inc. Forecasted to Earn Q3 2024 Earnings of $1.58 Per Share (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV) – Research analysts at Leerink Partnrs decreased their Q3 2024 earnings per share estimates for Shockwave Medical in a research report issued 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 previous 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 announced its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.24. The business had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.71 earnings per share.

Other equities analysts also recently issued reports about the company. Needham & Company LLC upped their target price on Shockwave Medical from $260.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, February 16th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Piper Sandler raised their target price on Shockwave Medical from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Wells Fargo & Company lifted their price objective on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Finally, Morgan Stanley lowered their price objective on Shockwave Medical from $284.00 to $223.00 and set an “overweight” rating on the stock in a report on Monday, December 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Shockwave Medical presently has an average rating of “Moderate Buy” and an average price target of $271.44.

Shockwave Medical Stock Up 0.9 %

Shockwave Medical stock opened at $325.63 on Friday. The business has a fifty day moving average of $254.81 and a two-hundred day moving average of $215.40. The firm has a market cap of $12.18 billion, a P/E ratio of 84.14, a P/E/G ratio of 2.73 and a beta of 0.90. 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 twelve month low of $157.00 and a twelve month high of $331.58.

Insider Transactions at Shockwave Medical

In other news, Director Frank T. Watkins sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $198.99, for a total transaction of $397,980.00. Following the transaction, the director now directly owns 4,532 shares in the company, valued at approximately $901,822.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 transaction of $155,284.76. Following the sale, the vice president now owns 31,031 shares of the company’s stock, valued at approximately $8,044,476.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank T. Watkins sold 2,000 shares of Shockwave Medical stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $198.99, for a total transaction of $397,980.00. Following the sale, the director now directly owns 4,532 shares in the company, valued at approximately $901,822.68. The disclosure for this sale can be found here. Insiders have sold a total of 115,813 shares of company stock worth $28,337,059 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Shockwave Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC grew its stake in shares of Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Shockwave Medical by 297.4% in the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after acquiring an additional 116 shares in the last quarter. Quarry LP purchased a new stake in shares of Shockwave Medical in the fourth quarter valued at about $33,000. Asset Management One Co. Ltd. purchased a new stake in shares of Shockwave Medical in the fourth quarter valued at about $34,000. Finally, PenderFund Capital Management Ltd. purchased a new position in Shockwave Medical during the first quarter worth about $41,000. Hedge funds and other 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.