Jennison Associates LLC Purchases 11,651 Shares of Shockwave Medical, Inc. (NASDAQ:SWAV)

Jennison Associates LLC raised its stake in Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,551 shares of the company's stock after purchasing an additional 11,651 shares during the quarter. Jennison Associates LLC owned approximately 0.27% of Shockwave Medical worth $19,161,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Lindbrook Capital LLC boosted its stake in shares of 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 acquiring an additional 59 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Shockwave Medical by 297.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company's stock worth $31,000 after acquiring an additional 116 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of Shockwave Medical during the 4th quarter worth approximately $34,000. Operose Advisors LLC bought a new position in shares of Shockwave Medical during the 3rd quarter worth approximately $49,000. Finally, Venturi Wealth Management LLC bought a new position in shares of Shockwave Medical during the 3rd quarter worth approximately $82,000. 95.35% of the stock is currently owned by institutional investors.

Shockwave Medical Price Performance

Shares of SWAV stock traded up $1.01 on Friday, hitting $330.00. 530,986 shares of the company's stock were exchanged, compared to its average volume of 954,148. Shockwave Medical, Inc. has a 12 month low of $157.00 and a 12 month high of $331.58. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The company has a 50 day moving average of $293.53 and a 200 day moving average of $232.36. The stock has a market cap 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.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last posted its 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 during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.71 earnings per share. On average, equities research analysts predict that Shockwave Medical, Inc. will post 4.94 EPS for the current year.

Insider Activity

In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the transaction, the chief financial officer now directly owns 27,732 shares in the company, valued at $6,371,704.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Dan Puckett sold 3,406 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $229.76, for a total transaction of $782,562.56. Following the completion of the sale, the chief financial officer now directly owns 27,732 shares in the company, valued at $6,371,704.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Isaac Zacharias sold 4,000 shares of the business's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the transaction, the insider now owns 56,818 shares in the company, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,813 shares of company stock worth $22,863,919. Insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Needham & Company LLC reissued a "hold" rating on shares of Shockwave Medical in a report on Friday, April 5th. SVB Leerink reissued a "market perform" rating and set a $335.00 price target (down from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Wolfe Research reissued a "peer perform" rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Piper Sandler lifted their price target on Shockwave Medical from $290.00 to $360.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Shockwave Medical presently has an average rating of "Hold" and a consensus price target 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.