Shockwave Medical, Inc. to Post Q3 2024 Earnings of $1.20 Per Share, Zacks Research Forecasts (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) - Research analysts at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for Shockwave Medical in a note issued to investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings per share of $1.20 for the quarter, up from their prior 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 - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.24. The firm had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. During the same period last year, the company posted $3.71 EPS. The business's quarterly revenue was up 41.0% on a year-over-year basis.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Shockwave Medical in a research note on Friday, April 5th. TheStreet upgraded Shockwave Medical from a "c+" rating to a "b" rating in a research note on Thursday, February 15th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $335.00 price target (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Piper Sandler raised their price objective 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, Leerink Partnrs downgraded Shockwave Medical from an "outperform" rating to a "market perform" rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Shockwave Medical has an average rating of "Hold" and an average price target of $309.11.

Shockwave Medical Trading Up 0.0 %

Shares of SWAV stock traded up $0.02 during trading hours on Thursday, hitting $327.52. 1,155,585 shares of the company were exchanged, compared to its average volume of 958,558. The company has a 50 day simple moving average of $282.20 and a two-hundred day simple moving average of $227.08. The firm has a market cap of $12.25 billion, a P/E ratio of 84.63, a P/E/G ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. Shockwave Medical has a fifty-two week low of $157.00 and a fifty-two week high of $331.58.

Insider Activity at Shockwave Medical

In related news, VP Trinh Phung sold 1,287 shares of the firm's stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total transaction of $298,815.66. Following the transaction, the vice president now directly owns 32,933 shares of the company's stock, valued at $7,646,383.94. 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 company's stock in a transaction on 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 owns 3,551 shares in the company, valued at approximately $1,065,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total value of $298,815.66. Following the sale, the vice president now owns 32,933 shares in the company, valued at $7,646,383.94. The disclosure for this sale can be found here. In the last three months, insiders sold 93,813 shares of company stock valued at $23,762,679. 3.40% of the stock is owned by insiders.

Institutional Trading of Shockwave Medical

A number of large investors have recently added to or reduced their stakes in SWAV. State of Michigan Retirement System grew its holdings in 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 purchasing an additional 200 shares during the period. Gibson Capital LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth $297,000. OneAscent Wealth Management LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth $217,000. Artemis Investment Management LLP purchased a new stake in Shockwave Medical in the 1st quarter worth about $28,130,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Shockwave Medical by 84.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,637 shares of the company's stock valued at $859,000 after acquiring an additional 1,205 shares during the period. Hedge funds and other 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.