Shockwave Medical, Inc. (NASDAQ:SWAV) Forecasted to Earn Q1 2024 Earnings of $0.98 Per Share

Shockwave Medical, Inc. (NASDAQ:SWAV) – Investment analysts at Zacks Research upped their Q1 2024 earnings per share estimates for shares of Shockwave Medical in a research note issued on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will post earnings per share of $0.98 for the quarter, up from their previous estimate of $0.92. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.90 per share. Zacks Research also issued estimates for Shockwave Medical’s Q2 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $4.83 EPS, Q3 2025 earnings at $1.51 EPS, Q4 2025 earnings at $1.83 EPS, Q1 2026 earnings at $1.60 EPS and FY2026 earnings at $7.34 EPS.

Several other brokerages have also issued reports on SWAV. CL King reissued a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. SVB Leerink reissued a “market perform” rating and issued a $335.00 target price (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Leerink Partnrs lowered Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their price objective on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Price Performance

Shares of NASDAQ:SWAV opened at $327.50 on Wednesday. Shockwave Medical has a 52-week low of $157.00 and a 52-week high of $331.58. The firm has a market capitalization of $12.25 billion, a P/E ratio of 84.63, a P/E/G ratio of 2.45 and a beta of 0.92. The stock has a 50 day moving average price of $282.20 and a 200-day moving average price of $227.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76.

Shockwave Medical (NASDAQ:SWAV) last announced its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The firm had revenue of $202.98 million during the quarter, compared to analyst estimates of $199.43 million. During the same quarter in the prior year, the company earned $3.71 EPS. The business’s revenue was up 41.0% compared to the same quarter last year.

Hedge Funds Weigh In On Shockwave Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Shockwave Medical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock worth $692,442,000 after buying an additional 33,539 shares during the last quarter. FMR LLC boosted its stake in shares of Shockwave Medical by 3.8% in the 3rd quarter. FMR LLC now owns 2,527,893 shares of the company’s stock worth $503,303,000 after buying an additional 92,919 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Shockwave Medical by 36.8% in the 4th quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after buying an additional 664,648 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Shockwave Medical by 7.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock worth $284,981,000 after buying an additional 97,356 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Shockwave Medical by 16.0% during the first quarter. Invesco Ltd. now owns 1,398,211 shares of the company’s stock valued at $289,933,000 after purchasing an additional 192,525 shares in the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total value of $1,150,680.00. Following the completion of the sale, the insider now owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total value of $1,150,680.00. Following the transaction, the insider now directly owns 56,818 shares in the company, valued at approximately $16,344,834.06. 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 firm’s 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 owns 3,551 shares in the company, valued at $1,065,300. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,813 shares of company stock valued at $23,762,679. Corporate insiders own 3.40% of the company’s stock.

Shockwave Medical Company 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.