Q2 2024 EPS Estimates for Shockwave Medical, Inc. Decreased by Zacks Research (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) - Investment analysts at Zacks Research cut their Q2 2024 earnings per share estimates for Shockwave Medical in a research note issued on Monday, May 20th. Zacks Research analyst I. Bandyopadhyay now expects that the company will earn $1.16 per share for the quarter, down from their prior estimate of $1.18. The consensus estimate for Shockwave Medical's current full-year earnings is $5.05 per share. Zacks Research also issued estimates for Shockwave Medical's Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $1.35 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $5.41 EPS, Q1 2026 earnings at $1.46 EPS and FY2026 earnings at $6.54 EPS.

A number of other equities analysts also recently issued reports on the company. Wolfe Research reiterated a "peer perform" rating on shares of Shockwave Medical in a report on Friday, April 5th. Wells Fargo & Company raised their price target on Shockwave Medical from $200.00 to $210.00 and gave the company an "equal weight" rating in a report on Friday, February 16th. Morgan Stanley restated an "equal weight" rating and set a $335.00 price target (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. TheStreet upgraded Shockwave Medical from a "c+" rating to a "b" rating in a report on Thursday, February 15th. Finally, Piper Sandler raised their price target on Shockwave Medical from $290.00 to $360.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Shockwave Medical currently has a consensus rating of "Hold" and a consensus price target of $309.11.

Shockwave Medical Stock Up 1.3 %

SWAV traded up $4.37 during trading on Wednesday, reaching $334.01. The stock had a trading volume of 1,964,110 shares, compared to its average volume of 914,753. The stock's 50 day moving average is $320.08 and its two-hundred day moving average is $249.16. The company has a current ratio of 13.81, a quick ratio of 12.61 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 2.40 and a beta of 0.88. Shockwave Medical has a one year low of $157.00 and a one year high of $334.28.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.45. The business 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 24.79% and a net margin of 20.75%. The firm's quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share.

Insiders Place Their Bets

In other Shockwave Medical news, Director Frank T. Watkins sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $253.65, for a total value of $507,300.00. Following the transaction, the director now directly owns 4,532 shares of the company's stock, valued at $1,149,541.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Shockwave Medical news, Director Frank T. Watkins sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $253.65, for a total value of $507,300.00. Following the transaction, the director now directly owns 4,532 shares of the company's stock, valued at $1,149,541.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Trinh Phung sold 599 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the transaction, the vice president now directly owns 31,031 shares in the company, valued at $8,044,476.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,120 shares of company stock valued at $3,310,021. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SWAV. Principal Financial Group Inc. lifted its position in shares of Shockwave Medical by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 146,893 shares of the company's stock valued at $29,246,000 after buying an additional 1,587 shares in the last quarter. Signaturefd LLC raised its stake in Shockwave Medical by 79.1% during the 3rd quarter. Signaturefd LLC now owns 471 shares of the company's stock valued at $94,000 after purchasing an additional 208 shares during the period. EverSource Wealth Advisors LLC raised its stake in Shockwave Medical by 297.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company's stock valued at $31,000 after purchasing an additional 116 shares during the period. Lincoln National Corp raised its stake in Shockwave Medical by 8.8% during the 3rd quarter. Lincoln National Corp now owns 1,274 shares of the company's stock valued at $254,000 after purchasing an additional 103 shares during the period. Finally, Arizona State Retirement System raised its stake in Shockwave Medical by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 10,428 shares of the company's stock valued at $2,076,000 after purchasing an additional 177 shares during the period. 95.35% of the stock is owned by hedge funds and other institutional investors.

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.