Cowen AND Company LLC Purchases New Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

Cowen AND Company LLC acquired a new stake in Shockwave Medical, Inc. (NASDAQ:SWAV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,510 shares of the company's stock, valued at approximately $669,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SWAV. Wellington Management Group LLP increased its holdings in shares of Shockwave Medical by 33.5% in the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company's stock valued at $359,529,000 after purchasing an additional 453,048 shares during the last quarter. Jackson Square Partners LLC bought a new position in Shockwave Medical during the 4th quarter valued at $53,766,000. Artisan Partners Limited Partnership increased its position in shares of Shockwave Medical by 21.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company's stock valued at $278,369,000 after purchasing an additional 250,352 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Shockwave Medical by 66.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company's stock worth $76,917,000 after acquiring an additional 154,637 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Shockwave Medical by 18,122.1% in the 4th quarter. International Assets Investment Management LLC now owns 141,586 shares of the company's stock worth $26,981,000 after acquiring an additional 140,809 shares during the last quarter. Institutional investors own 95.35% of the company's stock.

Shockwave Medical Stock Down 0.2 %

NASDAQ:SWAV traded down $0.75 during mid-day trading on Friday, hitting $330.13. 1,025,697 shares of the company's stock traded hands, compared to its average volume of 719,126. The company has a fifty day moving average of $316.05 and a 200 day moving average of $246.43. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $331.58. The company has a market capitalization of $12.39 billion, a P/E ratio of 77.13, a P/E/G ratio of 2.42 and a beta of 0.88. The company has a debt-to-equity ratio of 0.97, a quick ratio of 12.61 and a current ratio of 13.81.

Shockwave Medical (NASDAQ:SWAV - Get Free Report) last issued its earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.45. The firm had revenue of $218.80 million for 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 company's revenue was up 35.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, analysts forecast that Shockwave Medical, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 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 is available through the SEC website. In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction on Tuesday, March 26th. The stock was 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 directly owns 3,551 shares in the company, valued at $1,065,300. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederic H. Moll sold 60,000 shares of the firm's stock in a transaction on 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 owns 287,521 shares in the company, valued at $74,005,030.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,120 shares of company stock worth $18,753,421. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SWAV shares. TheStreet upgraded Shockwave Medical from a "c+" rating to a "b" rating in a research report on Thursday, February 15th. Wells Fargo & Company raised their target price on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an "equal weight" rating in a report on Friday, February 16th. Canaccord Genuity Group restated a "hold" rating and set a $335.00 price objective (up from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Morgan Stanley reaffirmed an "equal weight" rating and set a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Piper Sandler upped their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Shockwave Medical currently has a consensus rating of "Hold" and a consensus target price of $309.11.

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.

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