Brokers Issue Forecasts for Shockwave Medical, Inc.'s FY2024 Earnings (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) - Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for Shockwave Medical in a research report issued on Monday, May 20th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will earn $5.04 per share for the year, up from their prior forecast of $4.83. The consensus estimate for Shockwave Medical's current full-year earnings is $5.03 per share. Zacks Research also issued estimates for Shockwave Medical's Q1 2025 earnings at $1.10 EPS and Q2 2025 earnings at $1.25 EPS.

Several other research firms have also commented on SWAV. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $335.00 price objective (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Piper Sandler raised their price objective on Shockwave Medical from $290.00 to $360.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. SVB Leerink reiterated a "market perform" rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Morgan Stanley restated an "equal weight" rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Shockwave Medical in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Shockwave Medical currently has a consensus rating of "Hold" and an average price target of $309.11.

Shockwave Medical Stock Performance

Shares of Shockwave Medical stock traded down $0.21 during trading hours on Tuesday, reaching $329.64. 755,103 shares of the stock traded hands, compared to its average volume of 904,012. The company has a 50 day moving average price of $318.79 and a 200 day moving average price of $248.56. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 77.02, a P/E/G ratio of 2.41 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.99 by $0.45. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. Shockwave Medical's revenue was up 35.8% compared to the same quarter last year.

Insider Activity at Shockwave Medical

In related news, VP Trinh Phung sold 599 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total value of $155,284.76. Following the transaction, the vice president now owns 31,031 shares of the company's stock, valued at $8,044,476.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Shockwave Medical 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 transaction, the director now 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 is available through the SEC website. Also, VP Trinh Phung sold 599 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total transaction of $155,284.76. Following the sale, the vice president now directly owns 31,031 shares of the company's stock, valued at $8,044,476.44. The disclosure for this sale can be found here. Insiders sold a total of 72,120 shares of company stock worth $18,753,421 in the last quarter. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Shockwave Medical by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company's stock valued at $692,442,000 after buying an additional 33,539 shares in the last quarter. FMR LLC lifted its stake in Shockwave Medical by 3.8% in the 3rd quarter. FMR LLC now owns 2,527,893 shares of the company's stock worth $503,303,000 after purchasing an additional 92,919 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Shockwave Medical by 36.8% in the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company's stock valued at $470,763,000 after purchasing an additional 664,648 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Shockwave Medical by 7.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company's stock valued at $284,981,000 after purchasing an additional 97,356 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its position in Shockwave Medical by 42.3% during the fourth quarter. Eventide Asset Management LLC now owns 506,220 shares of the company's stock worth $96,465,000 after buying an additional 150,503 shares in the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

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.