Motley Fool Asset Management LLC Raises Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

Motley Fool Asset Management LLC increased its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV) by 577.9% in the fourth quarter, Holdings Channel reports. The fund owned 63,807 shares of the company’s stock after purchasing an additional 54,394 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Shockwave Medical were worth $12,159,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SWAV. Lindbrook Capital LLC lifted its stake in Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after acquiring an additional 59 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Shockwave Medical by 297.4% in the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Shockwave Medical in the fourth quarter worth about $34,000. Operose Advisors LLC purchased a new stake in Shockwave Medical in the third quarter worth about $49,000. Finally, Venturi Wealth Management LLC purchased a new stake in Shockwave Medical in the third quarter worth about $82,000. 95.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Shockwave Medical news, Director Frederic H. Moll sold 60,000 shares of the company’s 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 sale, the director now owns 287,521 shares in the company, valued at approximately $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $224.69, for a total value of $898,760.00. Following the sale, the insider now owns 63,920 shares in the company, valued at approximately $14,362,184.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 287,521 shares in the company, valued at approximately $74,005,030.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,813 shares of company stock worth $23,762,679. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

SWAV has been the subject of a number of research reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Wells Fargo & Company increased their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Piper Sandler increased their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Stock Performance

NASDAQ:SWAV traded up $0.12 during midday trading on Thursday, hitting $328.99. The company’s stock had a trading volume of 597,448 shares, compared to its average volume of 959,437. Shockwave Medical, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The firm’s 50 day moving average is $293.53 and its 200-day moving average is $232.36. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The firm has a market cap of $12.30 billion, a P/E ratio of 85.01, a P/E/G ratio of 2.44 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company had revenue of $202.98 million for the quarter, compared to the consensus estimate of $199.43 million. During the same quarter in the prior year, the company earned $3.71 EPS. Shockwave Medical’s quarterly revenue was up 41.0% on a year-over-year basis. Equities analysts anticipate that Shockwave Medical, Inc. will post 4.94 earnings per share for the current fiscal year.

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.