Allspring Global Investments Holdings LLC Cuts Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

Allspring Global Investments Holdings LLC reduced its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 619,108 shares of the company's stock after selling 26,526 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.68% of Shockwave Medical worth $117,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. increased its stake in Shockwave Medical by 3.3% during the 1st quarter. Harbour Investments Inc. now owns 1,300 shares of the company's stock valued at $282,000 after purchasing an additional 41 shares in the last quarter. Snowden Capital Advisors LLC increased its stake in Shockwave Medical by 1.4% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,035 shares of the company's stock valued at $658,000 after purchasing an additional 43 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Shockwave Medical by 11.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company's stock valued at $96,000 after purchasing an additional 50 shares in the last quarter. Lindbrook Capital LLC increased its stake in Shockwave Medical by 64.8% during the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company's stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Shockwave Medical by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company's stock worth $3,263,000 after acquiring an additional 60 shares during the period. 95.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SWAV. Leerink Partnrs lowered shares of Shockwave Medical from an "outperform" rating to a "market perform" rating in a research note on Friday. Canaccord Genuity Group reiterated a "hold" rating and issued a $335.00 price target (up from $263.00) on shares of Shockwave Medical in a research note on Friday. Wolfe Research reiterated a "peer perform" rating on shares of Shockwave Medical in a research note on Friday. SVB Leerink reiterated a "market perform" rating and issued a $335.00 price target (down from $361.00) on shares of Shockwave Medical in a research note on Monday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Shockwave Medical in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $305.70.

Insider Buying and Selling

In related news, Director Frederic H. Moll sold 60,000 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the sale, the director now directly owns 287,521 shares of the company's stock, valued at $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Frederic H. Moll sold 60,000 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the completion of the sale, the director now directly owns 287,521 shares of the company's stock, valued at $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Trinh Phung sold 1,287 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total transaction of $298,815.66. Following the completion of the sale, the vice president now directly owns 32,933 shares of the company's stock, valued at $7,646,383.94. The disclosure for this sale can be found here. Insiders sold a total of 103,813 shares of company stock valued at $25,938,579 over the last three months. 3.40% of the stock is owned by company insiders.

Shockwave Medical Trading Up 0.5 %

Shares of NASDAQ SWAV traded up $1.75 during mid-day trading on Tuesday, reaching $327.35. The company had a trading volume of 3,047,647 shares, compared to its average volume of 896,007. The business's 50-day moving average is $270.77 and its 200-day moving average is $221.82. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 84.59, a price-to-earnings-growth ratio of 2.76 and a beta of 0.92. Shockwave Medical, Inc. has a 52 week low of $157.00 and a 52 week high of $331.58.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.24. The firm had revenue of $202.98 million for the quarter, compared to analysts' expectations of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The business's revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.71 earnings per share. Equities analysts expect that Shockwave Medical, Inc. will post 4.89 earnings per share for the current year.

Shockwave Medical 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.