Shockwave Medical (NASDAQ:SWAV) Releases Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Shockwave Medical (NASDAQ:SWAV) issued its earnings results on Monday. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.99 by $0.45, Briefing.com reports. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue was up 35.8% on a year-over-year basis.

Shockwave Medical Stock Performance

Shares of SWAV stock opened at $330.63 on Thursday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 85.43, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The company has a 50 day moving average price of $305.74 and a 200 day moving average price of $240.67.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SWAV. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. Piper Sandler boosted their target price on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $335.00 price target (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $335.00 price objective (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.11.

Insider Buying and Selling at Shockwave Medical

In related news, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total value of $2,315,600.00. Following the transaction, the chief executive officer now owns 162,762 shares in the company, valued at $37,689,168.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frederic H. Moll sold 60,000 shares of the firm’s 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 $74,005,030.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the completion of the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The disclosure for this sale can be found here. Insiders have sold a total of 83,120 shares of company stock worth $21,319,021 in the last quarter. 3.40% of the stock is owned by 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.