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First Turn Management LLC Takes $10.95 Million Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

First Turn Management LLC purchased a new stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,484 shares of the company's stock, valued at approximately $10,954,000. Shockwave Medical makes up about 1.6% of First Turn Management LLC's portfolio, making the stock its 27th largest position. First Turn Management LLC owned about 0.16% of Shockwave Medical at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in Shockwave Medical by 3.8% in the third quarter. FMR LLC now owns 2,527,893 shares of the company's stock worth $503,303,000 after purchasing an additional 92,919 shares during the last quarter. Wellington Management Group LLP grew its holdings in Shockwave Medical by 33.5% in the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company's stock worth $359,529,000 after purchasing an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Shockwave Medical by 21.8% in the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company's stock worth $278,369,000 after purchasing an additional 250,352 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Shockwave Medical by 66.7% in the third quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company's stock worth $76,917,000 after purchasing an additional 154,637 shares during the last quarter. Finally, Eventide Asset Management LLC grew its holdings in shares of Shockwave Medical by 46.7% during the third quarter. Eventide Asset Management LLC now owns 355,717 shares of the company's stock valued at $70,823,000 after buying an additional 113,260 shares during the last quarter. Institutional investors own 95.35% of the company's stock.

Insider Activity


In related news, 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 completion of the transaction, the vice president now owns 31,031 shares of the company's stock, valued at approximately $8,044,476.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Laura Francis sold 1,000 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the sale, the director now directly owns 3,551 shares in the company, valued at approximately $887,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Trinh Phung sold 599 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now owns 31,031 shares in the company, valued at $8,044,476.44. The disclosure for this sale can be found here. Insiders sold a total of 83,120 shares of company stock valued at $21,319,021 in the last 90 days. Company insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on SWAV

Shockwave Medical Trading Down 0.0 %

Shares of Shockwave Medical stock traded down $0.13 during mid-day trading on Wednesday, hitting $330.87. The stock had a trading volume of 459,021 shares, compared to its average volume of 912,206. The firm has a 50-day moving average of $311.46 and a two-hundred day moving average of $244.34. Shockwave Medical, Inc. has a 12-month low of $157.00 and a 12-month high of $331.58. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97. The firm has a market cap of $12.42 billion, a P/E ratio of 77.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88.

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

About Shockwave Medical

(Free Report)

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.

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Institutional Ownership by Quarter for Shockwave Medical (NASDAQ:SWAV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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