Shockwave Medical (NASDAQ:SWAV) Issues Quarterly Earnings Results

Shockwave Medical (NASDAQ:SWAV) issued its quarterly earnings results on Monday. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45, Briefing.com reports. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share.

Shockwave Medical Trading Up 0.1 %

NASDAQ:SWAV traded up $0.42 on Tuesday, hitting $330.42. 64,336 shares of the stock were exchanged, compared to its average volume of 927,194. Shockwave Medical has a 52 week low of $157.00 and a 52 week high of $331.58. The company’s 50-day moving average price is $303.04 and its 200 day moving average price is $239.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 85.50, a P/E/G ratio of 2.46 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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 note on Monday, April 8th. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. CL King restated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $335.00 price objective (up from $263.00) 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 stock. Based on data from MarketBeat, Shockwave Medical has a consensus rating of “Hold” and a consensus target price of $309.11.

Insider Activity

In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at $1,065,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the transaction, the director now owns 287,521 shares in the company, valued at approximately $74,005,030.19. The disclosure for this sale can be found here. Insiders have sold a total of 83,120 shares of company stock valued at $21,319,021 in the last 90 days. 3.40% of the stock is owned by company insiders.

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.