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

Shockwave Medical (NASDAQ:SWAV) posted its earnings results on Monday. The company reported $1.44 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations 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 period last year, the firm earned $1.03 earnings per share.

Shockwave Medical Stock Up 0.2 %

SWAV stock traded up $0.57 during trading on Tuesday, hitting $330.57. 46,547 shares of the stock traded hands, compared to its average volume of 926,973. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 85.50, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88. 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 $303.04 and its two-hundred day moving average is $239.12.

Analysts Set New Price Targets

A number of equities analysts recently commented on SWAV shares. Morgan Stanley restated an “equal weight” rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Wells Fargo & Company raised their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $309.11.

Insiders Place Their Bets

In related news, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total value of $2,315,600.00. Following the transaction, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Francis sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $887,750. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,120 shares of company stock valued at $21,319,021. Insiders own 3.40% of the company’s stock.

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.