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

Shockwave Medical, Inc. (NASDAQ:SWAV) – Research analysts at Zacks Research boosted their Q3 2024 EPS estimates for Shockwave Medical in a research report issued on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects that the company will earn $1.20 per share for the quarter, up from their previous estimate of $1.11. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for Shockwave Medical’s Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.40 EPS and FY2025 earnings at $5.99 EPS.

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group reiterated 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler increased their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company increased 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. Finally, Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Price Performance

Shares of SWAV stock opened at $329.00 on Thursday. Shockwave Medical has a 1 year low of $157.00 and a 1 year high of $331.58. The firm’s 50 day moving average is $284.02 and its 200-day moving average is $227.77. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 85.01, a PEG ratio of 2.43 and a beta of 0.92. 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 (NASDAQ:SWAV) last announced its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (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 analyst estimates of $199.43 million. During the same period in the prior year, the business earned $3.71 earnings per share. Shockwave Medical’s quarterly revenue was up 41.0% on a year-over-year basis.

Insiders Place Their Bets

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the sale, the insider now directly owns 56,818 shares in the company, valued at $16,344,834.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the completion of the sale, the chief executive officer now owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction 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 sale, the insider now directly owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,813 shares of company stock worth $23,762,679. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Shockwave Medical

Large investors have recently made changes to their positions in the stock. Riverview Trust Co bought a new stake in shares of Shockwave Medical during the first quarter worth $30,000. Rise Advisors LLC bought a new position in Shockwave Medical in the first quarter valued at $32,000. GAMMA Investing LLC grew its position in Shockwave Medical by 92.9% in the first quarter. GAMMA Investing LLC now owns 135 shares of the company’s stock valued at $44,000 after purchasing an additional 65 shares in the last quarter. Lindbrook Capital LLC grew its position in Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 116 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.