Next Century Growth Investors LLC Sells 3,288 Shares of ShockWave Medical, Inc. (NASDAQ:SWAV)

Next Century Growth Investors LLC cut its holdings in shares of ShockWave Medical, Inc. (NASDAQ:SWAV) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,856 shares of the company’s stock after selling 3,288 shares during the period. Next Century Growth Investors LLC owned approximately 0.05% of ShockWave Medical worth $3,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SWAV. Great West Life Assurance Co. Can lifted its holdings in shares of ShockWave Medical by 9.1% in the second quarter. Great West Life Assurance Co. Can now owns 1,819 shares of the company’s stock valued at $345,000 after purchasing an additional 152 shares in the last quarter. US Bancorp DE boosted its position in ShockWave Medical by 10.1% during the second quarter. US Bancorp DE now owns 1,667 shares of the company’s stock worth $316,000 after purchasing an additional 153 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of ShockWave Medical by 9.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,800 shares of the company’s stock valued at $341,000 after acquiring an additional 158 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of ShockWave Medical by 10.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,969 shares of the company’s stock valued at $256,000 after acquiring an additional 184 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in shares of ShockWave Medical by 14.3% in the second quarter. Ameritas Investment Partners Inc. now owns 2,646 shares of the company’s stock valued at $502,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 91.18% of the company’s stock.

Shares of ShockWave Medical stock traded down $7.20 on Thursday, reaching $191.68. 6,520 shares of the company’s stock were exchanged, compared to its average volume of 377,769. The company has a market capitalization of $6.74 billion, a P/E ratio of -129.99 and a beta of 1.28. ShockWave Medical, Inc. has a 52 week low of $66.09 and a 52 week high of $237.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.65 and a current ratio of 6.66. The firm’s 50-day moving average is $206.61 and its two-hundred day moving average is $180.16.

ShockWave Medical (NASDAQ:SWAV) last posted its quarterly earnings results on Monday, August 9th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.39. The firm had revenue of $55.90 million during the quarter, compared to the consensus estimate of $45.21 million. ShockWave Medical had a negative net margin of 40.60% and a negative return on equity of 24.14%. The business’s revenue was up 442.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.56) earnings per share. On average, analysts expect that ShockWave Medical, Inc. will post -0.67 EPS for the current fiscal year.

A number of research firms recently commented on SWAV. Bank of America downgraded ShockWave Medical from a “buy” rating to a “neutral” rating and boosted their price target for the company from $180.00 to $200.00 in a research note on Monday, July 12th. Zacks Investment Research raised ShockWave Medical from a “hold” rating to a “buy” rating and set a $235.00 target price for the company in a research note on Friday, August 27th. Wells Fargo & Company downgraded ShockWave Medical from an “overweight” rating to an “equal weight” rating and set a $189.00 target price for the company. in a research note on Friday, June 18th. They noted that the move was a valuation call. SVB Leerink boosted their price target on ShockWave Medical from $208.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, August 10th. Finally, Morgan Stanley boosted their price target on ShockWave Medical from $152.00 to $200.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $207.57.

In related news, CFO Dan Puckett sold 2,500 shares of the business’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $195.47, for a total transaction of $488,675.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank T. Watkins sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $170.20, for a total transaction of $340,400.00. Following the transaction, the director now owns 75,678 shares in the company, valued at $12,880,395.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,508 shares of company stock valued at $12,713,199. 15.30% of the stock is currently owned by insiders.

About ShockWave Medical

Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.

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Institutional Ownership by Quarter for ShockWave Medical (NASDAQ:SWAV)

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