TimesSquare Capital Management LLC Has $43.96 Million Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

TimesSquare Capital Management LLC lifted its holdings in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 22.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,685 shares of the company’s stock after buying an additional 42,830 shares during the quarter. TimesSquare Capital Management LLC owned about 0.63% of Shockwave Medical worth $43,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SWAV. Lindbrook Capital LLC increased its stake in Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Shockwave Medical by 297.4% during 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 in the last quarter. Asset Management One Co. Ltd. acquired a new position in Shockwave Medical in the fourth quarter valued at about $34,000. Operose Advisors LLC bought a new stake in shares of Shockwave Medical in the third quarter worth about $49,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Shockwave Medical during the third quarter worth about $82,000. Institutional investors own 95.35% of the company’s stock.

Shockwave Medical Price Performance

Shares of NASDAQ SWAV traded down $0.09 during mid-day trading on Thursday, hitting $330.54. 506,735 shares of the stock traded hands, compared to its average volume of 924,207. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $331.58. The firm has a 50 day simple moving average of $305.74 and a two-hundred day simple moving average of $240.67. 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 company has a market cap of $12.40 billion, a PE ratio of 85.43, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.45. The company had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $207.69 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. As a group, equities research analysts forecast that Shockwave Medical, Inc. will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on SWAV. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. CL King restated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Wells Fargo & Company upped their price objective on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, SVB Leerink reiterated a “market perform” rating and set a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $309.11.

Insider Activity

In other Shockwave Medical news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total value of $450,000.00. Following the sale, the director now owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 3,551 shares in the company, valued at $1,065,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value of $2,315,600.00. Following the completion of the sale, the chief executive officer now owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,120 shares of company stock valued at $21,319,021. Insiders own 3.40% of the company’s stock.

Shockwave Medical 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.