Shockwave Medical, Inc. (NASDAQ:SWAV) to Post Q1 2024 Earnings of $0.98 Per Share, Zacks Research Forecasts

Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) - Equities research analysts at Zacks Research raised their Q1 2024 EPS estimates for shares of Shockwave Medical in a report released on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings per share of $0.98 for the quarter, up from their prior forecast of $0.92. The consensus estimate for Shockwave Medical's current full-year earnings is $4.90 per share. Zacks Research also issued estimates for Shockwave Medical's Q2 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $4.83 EPS, Q3 2025 earnings at $1.51 EPS, Q4 2025 earnings at $1.83 EPS, Q1 2026 earnings at $1.60 EPS and FY2026 earnings at $7.34 EPS.

A number of other research firms have also recently issued reports on SWAV. Wells Fargo & Company increased their target price on Shockwave Medical from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, February 16th. CL King reaffirmed a "neutral" rating on shares of Shockwave Medical in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Piper Sandler raised their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Shockwave Medical in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Shockwave Medical presently has a consensus rating of "Hold" and an average price target of $309.11.

Shockwave Medical Stock Performance

NASDAQ SWAV remained flat at $327.50 during trading hours on Wednesday. The company had a trading volume of 1,024,693 shares, compared to its average volume of 955,897. The business's 50 day moving average price is $282.20 and its 200-day moving average price is $227.08. Shockwave Medical has a twelve month low of $157.00 and a twelve month high of $331.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The firm has a market capitalization of $12.25 billion, a P/E ratio of 84.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (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 business had revenue of $202.98 million during the quarter, compared to analysts' expectations of $199.43 million. During the same period in the prior year, the business earned $3.71 EPS. Shockwave Medical's revenue for the quarter was up 41.0% compared to the same quarter last year.

Insider Activity at Shockwave Medical

In related news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $224.69, for a total value of $898,760.00. Following the completion of the sale, the insider now directly owns 63,920 shares of the company's stock, valued at approximately $14,362,184.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Isaac Zacharias sold 4,000 shares of the firm's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $224.69, for a total transaction of $898,760.00. Following the completion of the sale, the insider now directly owns 63,920 shares of the company's stock, valued at approximately $14,362,184.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Dan Puckett sold 3,406 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were 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 of the company's stock, valued at $6,371,704.32. The disclosure for this sale can be found here. Insiders have sold 93,813 shares of company stock worth $23,762,679 over the last ninety days. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co bought a new position in shares of Shockwave Medical during the 1st quarter worth $30,000. Rise Advisors LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth $32,000. GAMMA Investing LLC grew its stake in shares of Shockwave Medical by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 135 shares of the company's stock worth $44,000 after acquiring an additional 65 shares during the period. Lindbrook Capital LLC grew its stake in shares of Shockwave Medical by 64.8% during the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company's stock worth $30,000 after acquiring an additional 59 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Shockwave Medical by 297.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company's stock worth $31,000 after acquiring an additional 116 shares during the period. Institutional investors own 95.35% of the company's stock.

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.