Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,500 shares of the company's stock after selling 8,100 shares during the quarter. Swiss National Bank owned about 0.20% of Shockwave Medical worth $13,816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Shockwave Medical by 297.4% in the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company's stock valued at $31,000 after acquiring an additional 116 shares during the period. Asset Management One Co. Ltd. acquired a new stake in shares of Shockwave Medical in the fourth quarter valued at approximately $34,000. Operose Advisors LLC acquired a new stake in shares of Shockwave Medical during the third quarter worth $49,000. Venturi Wealth Management LLC purchased a new position in Shockwave Medical in the 3rd quarter valued at $82,000. Finally, Covestor Ltd grew its position in Shockwave Medical by 484.9% in the 3rd quarter. Covestor Ltd now owns 427 shares of the company's stock valued at $85,000 after buying an additional 354 shares during the last quarter. 95.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SWAV shares. Morgan Stanley reiterated an "equal weight" rating and issued a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler lifted their price objective on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. CL King reiterated a "neutral" rating on shares of Shockwave Medical in a research report on Monday, April 8th. Wells Fargo & Company lifted their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an "equal weight" rating in a research report on Friday, February 16th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $335.00 price objective (up from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $309.11.

Shockwave Medical Price Performance

Shockwave Medical stock traded up $0.01 during midday trading on Friday, reaching $330.55. The company's stock had a trading volume of 429,386 shares, compared to its average volume of 915,880. Shockwave Medical, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The company has a debt-to-equity ratio of 0.97, a quick ratio of 10.73 and a current ratio of 13.81. The stock's 50 day simple moving average is $308.48 and its 200 day simple moving average is $242.38. The firm has a market capitalization of $12.41 billion, a PE ratio of 77.23, a P/E/G ratio of 2.43 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.45. The business had revenue of $218.80 million during the quarter, compared to the consensus estimate of $207.69 million. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The business's revenue was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 EPS. On average, equities research analysts forecast that Shockwave Medical, Inc. will post 4.99 earnings per share for the current year.

Insider Transactions at Shockwave Medical

In related news, Director Laura Francis sold 1,500 shares of the business's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now owns 3,551 shares of the company's stock, valued at approximately $1,065,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Douglas Evan Godshall sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value of $2,315,600.00. Following the completion of the sale, the chief executive officer now directly owns 162,762 shares in the company, valued at $37,689,168.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Laura Francis sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The disclosure for this sale can be found here. Insiders sold 83,120 shares of company stock valued at $21,319,021 in the last 90 days. 3.40% of the stock is currently owned by insiders.

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.