Shockwave Medical (NASDAQ:SWAV) Announces Quarterly Earnings Results, Beats Estimates By $0.45 EPS

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

Shockwave Medical Price Performance

Shares of NASDAQ SWAV traded up $0.57 during midday trading on Tuesday, reaching $330.57. The company’s stock had a trading volume of 46,547 shares, compared to its average volume of 926,973. 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 company has a market cap of $12.40 billion, a P/E ratio of 85.50, a P/E/G ratio of 2.46 and a beta of 0.88. The business’s 50 day moving average price is $303.04 and its two-hundred day moving average price is $239.12. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two week high of $331.58.

Insider Activity

In other news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the sale, the director now directly owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 of the company’s stock, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. In the last three months, insiders sold 83,120 shares of company stock worth $21,319,021. 3.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SWAV shares. CL King reissued a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Morgan Stanley reiterated an “equal weight” rating and set a $335.00 price target (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 Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Shockwave Medical currently has a consensus rating of “Hold” and a consensus target price of $309.11.

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.