Louisiana State Employees Retirement System Buys New Shares in Shockwave Medical, Inc. (NASDAQ:SWAV)

Louisiana State Employees Retirement System purchased a new position in Shockwave Medical, Inc. (NASDAQ:SWAV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,400 shares of the company’s stock, valued at approximately $1,982,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lindbrook Capital LLC increased 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 valued at $30,000 after acquiring an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $31,000 after acquiring an additional 116 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new position in shares of Shockwave Medical during the 1st quarter valued at about $41,000. Asset Management One Co. Ltd. acquired a new position in shares of Shockwave Medical during the 4th quarter valued at about $34,000. Finally, Operose Advisors LLC acquired a new position in shares of Shockwave Medical during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analyst Ratings Changes

SWAV has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Piper Sandler increased their target price 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. Canaccord Genuity Group reissued a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $309.11.

Shockwave Medical Price Performance

NASDAQ SWAV opened at $327.50 on Thursday. The stock has a market cap of $12.25 billion, a PE ratio of 84.63, a P/E/G ratio of 2.43 and a beta of 0.92. Shockwave Medical, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The business has a 50 day moving average price of $282.20 and a two-hundred day moving average price of $227.08. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share 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 return on equity of 23.97% and a net margin of 20.17%. Shockwave Medical’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.71 EPS. As a group, sell-side analysts predict that Shockwave Medical, Inc. will post 4.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction that occurred 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 owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Trinh Phung sold 1,287 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total transaction of $298,815.66. Following the completion of the transaction, the vice president now directly owns 32,933 shares in the company, valued at approximately $7,646,383.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Laura Francis sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the transaction, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The disclosure for this sale can be found here. Insiders sold a total of 93,813 shares of company stock worth $23,762,679 in the last 90 days. 3.40% of the stock is owned by company insiders.

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.