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

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

Several other equities analysts have also weighed in on SWAV. TheStreet upgraded shares of Shockwave Medical from a "c+" rating to a "b" rating in a research report on Thursday, February 15th. Needham & Company LLC upped their price target on shares of Shockwave Medical from $260.00 to $286.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Morgan Stanley reduced 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. Wells Fargo & Company increased their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an "equal weight" rating in a report on Friday, February 16th. Finally, CL King initiated coverage on shares of Shockwave Medical in a report on Wednesday. They set a "buy" rating and a $368.00 target price on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Shockwave Medical has a consensus rating of "Moderate Buy" and a consensus target price of $271.44.

Shockwave Medical Stock Up 0.9 %

SWAV stock traded up $3.02 during trading on Friday, reaching $325.63. The stock had a trading volume of 814,504 shares, compared to its average volume of 698,070. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 84.14, a P/E/G ratio of 2.73 and a beta of 0.90. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. The company's 50 day moving average is $256.98 and its two-hundred day moving average is $216.09. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58.

Insiders Place Their Bets

In other 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 value of $782,562.56. Following the sale, 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 filing with the SEC, which is available through this link. In related news, Director Laura Francis sold 1,500 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 3,551 shares in the company, valued at $1,065,300. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Puckett sold 3,406 shares of Shockwave Medical stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the sale, the chief financial officer now directly owns 27,732 shares in the company, valued at $6,371,704.32. The disclosure for this sale can be found here. Insiders have sold a total of 115,813 shares of company stock valued at $28,337,059 in the last quarter. Insiders own 3.40% of the company's stock.

Institutional Trading of Shockwave Medical

A number of large investors have recently added to or reduced their stakes in SWAV. Lindbrook Capital LLC raised its stake in Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company's stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company's stock valued at $31,000 after acquiring an additional 116 shares during the period. Quarry LP bought a new position in shares of Shockwave Medical in the 4th quarter worth $33,000. Asset Management One Co. Ltd. purchased a new stake in shares of Shockwave Medical during the 4th quarter worth $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Shockwave Medical during the 4th quarter valued at $41,000. Institutional investors own 95.35% 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.