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

Shockwave Medical, Inc. (NASDAQ:SWAV) – Investment analysts at Leerink Partnrs reduced their Q3 2024 earnings per share estimates for shares of Shockwave Medical in a note issued to investors on Thursday, March 28th. Leerink Partnrs analyst M. Kratky now anticipates that the company will post earnings of $1.58 per share for the quarter, down from their prior 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 issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The company had revenue of $202.98 million during the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter in the previous year, the firm posted $3.71 EPS. The firm’s revenue was up 41.0% compared to the same quarter last year.

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

Shockwave Medical Stock Performance

Shares of SWAV opened at $325.63 on Friday. The stock has a 50-day moving average of $254.81 and a two-hundred day moving average of $215.40. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. 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 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.

Insider Buying and Selling

In related news, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $200.05, for a total transaction of $2,000,500.00. Following the completion of the transaction, the chief executive officer now directly owns 141,057 shares in the company, valued at approximately $28,218,452.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Dan Puckett sold 3,406 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $229.76, for a total transaction of $782,562.56. Following the completion of the transaction, the chief financial officer now directly owns 27,732 shares in the company, valued at approximately $6,371,704.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $200.05, for a total value of $2,000,500.00. Following the completion of the transaction, the chief executive officer now owns 141,057 shares of the company’s stock, valued at $28,218,452.85. The disclosure for this sale can be found here. Insiders sold 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Covestor Ltd raised its holdings in Shockwave Medical by 484.9% in the 3rd quarter. Covestor Ltd now owns 427 shares of the company’s stock valued at $85,000 after acquiring an additional 354 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Shockwave Medical by 109.0% during the 3rd quarter. American Century Companies Inc. now owns 170,866 shares of the company’s stock worth $34,019,000 after buying an additional 89,094 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Shockwave Medical by 33.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock worth $359,529,000 after buying an additional 453,048 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Shockwave Medical by 751.7% during the 3rd quarter. SG Americas Securities LLC now owns 9,505 shares of the company’s stock worth $1,892,000 after buying an additional 8,389 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Shockwave Medical during the 4th quarter worth $280,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

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.