Shockwave Medical, Inc. (NASDAQ:SWAV) Sees Significant Decrease in Short Interest

Shockwave Medical, Inc. (NASDAQ:SWAV - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,470,000 shares, a drop of 27.6% from the March 31st total of 2,030,000 shares. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is presently 1.4 days.

Insider Activity

In other news, CEO Douglas Evan Godshall sold 10,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 162,762 shares in the company, valued at $37,689,168.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $231.56, for a total value of $2,315,600.00. Following the completion of the transaction, the chief executive officer now owns 162,762 shares in the company, valued at $37,689,168.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the transaction, the director now owns 287,521 shares of the company's stock, valued at approximately $74,005,030.19. The disclosure for this sale can be found here. Insiders sold a total of 89,813 shares of company stock worth $22,863,919 over the last 90 days. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Shockwave Medical

Hedge funds have recently made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in shares of Shockwave Medical in the 1st quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of Shockwave Medical in the 1st quarter valued at $30,000. Rise Advisors LLC acquired a new stake in Shockwave Medical during the 1st quarter worth about $32,000. GAMMA Investing LLC grew its position in 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 purchasing an additional 65 shares during the period. Finally, Lindbrook Capital LLC grew its position in 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 purchasing an additional 59 shares during the period. 95.35% of the stock is owned by institutional investors and hedge funds.

Shockwave Medical Stock Up 0.3 %

NASDAQ:SWAV traded up $1.01 during trading hours on Friday, reaching $330.00. The company's stock had a trading volume of 575,689 shares, compared to its average volume of 2,009,896. The stock has a 50 day moving average price of $294.88 and a two-hundred day moving average price of $233.41. The company has a market capitalization of $12.34 billion, a P/E ratio of 85.27, a price-to-earnings-growth ratio of 2.44 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 12 month low of $157.00 and a 12 month high of $331.58.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last issued its quarterly 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. The business had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The business's quarterly revenue was up 41.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.71 earnings per share. Equities analysts predict that Shockwave Medical will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. SVB Leerink restated a "market perform" rating and set a $335.00 target price (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler boosted their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Shockwave Medical in a research note on Friday, April 5th. Leerink Partnrs downgraded shares of Shockwave Medical from an "outperform" rating to a "market perform" rating in a research note on Friday, April 5th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $309.11.

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.