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

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

Shockwave Medical Stock Performance

Shares of SWAV opened at $330.49 on Wednesday. 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. The stock has a market cap of $12.40 billion, a P/E ratio of 85.40, a P/E/G ratio of 2.46 and a beta of 0.88. The business’s 50 day moving average price is $304.38 and its 200-day moving average price is $240.04.

Insider Buying and Selling at Shockwave Medical

In other news, 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 value of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at $37,689,168.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 162,762 shares in the company, 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 worth $21,319,021. 3.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SWAV. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. SVB Leerink restated a “market perform” rating and set a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Leerink Partnrs lowered Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Piper Sandler upped their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shockwave Medical presently has a consensus rating of “Hold” and an average target price of $309.11.

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.