VELA Investment Management LLC Makes New $653,000 Investment in Shockwave Medical, Inc. (NASDAQ:SWAV)

VELA Investment Management LLC acquired a new stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,427 shares of the company's stock, valued at approximately $653,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SWAV shares. SVB Leerink reaffirmed a "market perform" rating and issued a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Needham & Company LLC reissued a "hold" rating on shares of Shockwave Medical in a research report on Friday, April 5th. Piper Sandler raised their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $335.00 price target (up from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price 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 issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $309.11.

Shockwave Medical Stock Down 0.2 %

SWAV stock traded down $0.60 during trading on Monday, hitting $327.10. 1,510,828 shares of the stock traded hands, compared to its average volume of 950,864. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 84.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. Shockwave Medical, Inc. has a 1 year low of $157.00 and a 1 year high of $331.58. The firm's 50 day moving average is $278.57 and its two-hundred day moving average is $225.46.

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, beating 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 quarter in the prior year, the company posted $3.71 earnings per share. On average, sell-side analysts anticipate that Shockwave Medical, Inc. will post 4.9 EPS for the current year.

Insider Transactions at Shockwave Medical

In related news, Director Laura Francis sold 1,500 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the sale, the director now directly owns 3,551 shares of the company's stock, valued at $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Laura Francis sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now directly owns 3,551 shares of the company's stock, valued at $1,065,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trinh Phung sold 599 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 31,031 shares in the company, valued at approximately $8,044,476.44. The disclosure for this sale can be found here. Insiders sold 103,813 shares of company stock worth $25,938,579 over the last quarter. 3.40% of the stock is currently owned by insiders.

Shockwave Medical Company 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.