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

Shockwave Medical, Inc. (NASDAQ:SWAV) – Analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for Shockwave Medical in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now forecasts that the company will post earnings per share of $1.20 for the quarter, up from their previous forecast 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.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $199.43 million. During the same period last year, the company posted $3.71 earnings per share. The firm’s revenue was up 41.0% compared to the same quarter last year.

SWAV has been the subject of several other reports. SVB Leerink restated a “market perform” rating and set a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Leerink Partnrs downgraded Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Wells Fargo & Company raised their target price on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. Piper Sandler raised their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Canaccord Genuity Group restated a “hold” rating and set a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $309.11.

Shockwave Medical Trading Up 0.5 %

NASDAQ:SWAV opened at $329.00 on Thursday. The business’s 50-day moving average is $284.02 and its two-hundred day moving average is $227.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. Shockwave Medical has a 12 month low of $157.00 and a 12 month high of $331.58. The firm has a market capitalization of $12.30 billion, a PE ratio of 85.01, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92.

Hedge Funds Weigh In On Shockwave Medical

A number of large investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Shockwave Medical in the first quarter worth about $286,000. State of Michigan Retirement System raised its holdings in shares of Shockwave Medical by 2.2% during the first quarter. State of Michigan Retirement System now owns 9,100 shares of the company’s stock valued at $2,963,000 after buying an additional 200 shares during the last quarter. Gibson Capital LLC bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $297,000. OneAscent Wealth Management LLC bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $217,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Shockwave Medical during the first quarter valued at approximately $28,130,000. Institutional investors own 95.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical 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 in the company, valued at $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the transaction, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 56,818 shares in the company, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,813 shares of company stock worth $23,762,679. Corporate insiders own 3.40% 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.