Shockwave Medical (NASDAQ:SWAV) Releases Earnings Results, Beats Expectations By $0.45 EPS

Shockwave Medical (NASDAQ:SWAV - Get Free Report) posted its earnings results on Monday. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.45, Briefing.com reports. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same quarter in the previous year, the business posted $1.03 EPS. The business's quarterly revenue was up 35.8% on a year-over-year basis.

Shockwave Medical Stock Up 0.1 %

Shares of SWAV stock traded up $0.49 during trading hours on Tuesday, hitting $330.49. 559,974 shares of the company were exchanged, compared to its average volume of 933,088. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 85.40, a P/E/G ratio of 2.46 and a beta of 0.88. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The business's 50-day simple moving average is $304.38 and its two-hundred day simple moving average is $240.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76.

Wall Street Analyst Weigh In

A number of research analysts have commented on SWAV shares. SVB Leerink restated a "market perform" rating and set a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Wolfe Research restated a "peer perform" rating on shares of Shockwave Medical in a report on Friday, April 5th. Canaccord Genuity Group reiterated a "hold" rating and set a $335.00 price objective (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Morgan Stanley reissued an "equal weight" rating and set a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Wells Fargo & Company raised their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an "equal weight" rating in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $309.11.

Insider Activity at Shockwave Medical

In other Shockwave Medical 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 transaction of $155,284.76. Following the transaction, the vice president now owns 31,031 shares of the company's stock, valued at approximately $8,044,476.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Shockwave Medical news, VP Trinh Phung sold 599 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total transaction of $155,284.76. Following the completion of the sale, the vice president now owns 31,031 shares in the company, valued at $8,044,476.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares in the company, valued at $37,689,168.72. The disclosure for this sale can be found here. Insiders sold a total of 83,120 shares of company stock valued at $21,319,021 over the last three months. 3.40% of the stock is owned by insiders.

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.