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

Shockwave Medical, Inc. (NASDAQ:SWAV) – Investment analysts at Zacks Research upped their Q1 2024 EPS estimates for Shockwave Medical in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now expects 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.

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

Several other brokerages have also recently weighed in on SWAV. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Wells Fargo & Company raised their price objective 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. Finally, Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Stock Performance

NASDAQ:SWAV remained flat at $327.50 during mid-day trading on Wednesday. 1,024,624 shares of the company traded hands, compared to its average volume of 954,148. The firm’s fifty day simple moving average is $278.57 and its 200-day simple moving average is $225.46. The company has a market capitalization of $12.25 billion, a P/E ratio of 84.56, a PEG ratio of 2.45 and a beta of 0.92. Shockwave Medical has a 52-week low of $157.00 and a 52-week high of $331.58. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09.

Hedge Funds Weigh In On Shockwave Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC boosted its position in shares of Shockwave Medical by 64.8% during the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Shockwave Medical during the 1st quarter worth $30,000. EverSource Wealth Advisors LLC boosted its position in shares of Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after buying an additional 116 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Shockwave Medical in the 1st quarter worth about $32,000. Finally, Quarry LP purchased a new stake in shares of Shockwave Medical in the 4th quarter worth about $33,000. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction on Friday, January 26th. The shares were sold at an average price of $224.69, for a total value of $898,760.00. Following the transaction, the insider now directly owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction 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 directly owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction on Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the completion of the transaction, the insider now owns 63,920 shares in the company, valued at $14,362,184.80. The disclosure for this sale can be found here. Insiders have sold 93,813 shares of company stock valued at $23,762,679 in the last ninety days. 3.40% of the stock is currently owned by company insiders.

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.