Shockwave Medical (NASDAQ:SWAV) Announces Quarterly Earnings Results

Shockwave Medical (NASDAQ:SWAV) posted its earnings results on Thursday. The company reported ($0.49) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.02, Bloomberg Earnings reports. The firm had revenue of $14.31 million during the quarter, compared to analyst estimates of $13.34 million. Shockwave Medical updated its FY 2020
After-Hours guidance to EPS.

NASDAQ SWAV traded down $3.39 during trading hours on Friday, hitting $44.35. 1,393,601 shares of the company’s stock were exchanged, compared to its average volume of 379,906. The business’s 50 day moving average is $44.17 and its 200-day moving average is $39.31. Shockwave Medical has a 12-month low of $24.58 and a 12-month high of $68.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.28 and a current ratio of 6.76.

In other news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.96, for a total value of $179,840.00. Following the transaction, the insider now directly owns 9,000 shares in the company, valued at approximately $404,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sofinnova Capital Vii Fcpr sold 58,747 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $43.20, for a total value of $2,537,870.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 542,000 shares of company stock worth $23,600,976.

Several analysts have weighed in on the company. Piper Sandler reissued a “buy” rating and issued a $48.00 target price on shares of Shockwave Medical in a report on Thursday, January 23rd. Wells Fargo & Co raised Shockwave Medical from a “market perform” rating to an “overweight” rating and set a $49.00 target price on the stock in a report on Thursday, December 12th. Oppenheimer assumed coverage on Shockwave Medical in a report on Tuesday, October 22nd. They issued a “market perform” rating on the stock. Canaccord Genuity lowered their target price on Shockwave Medical from $65.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, ValuEngine lowered Shockwave Medical from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Shockwave Medical presently has a consensus rating of “Hold” and a consensus price target of $47.17.

Shockwave Medical Company Profile

ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.

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