Shockwave Medical, Inc. (NASDAQ:SWAV) to Post Q3 2024 Earnings of $1.20 Per Share, Zacks Research Forecasts

Shockwave Medical, Inc. (NASDAQ:SWAV) – Stock analysts at Zacks Research boosted their Q3 2024 earnings estimates for Shockwave Medical in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now forecasts that the company will post earnings of $1.20 per share for the quarter, up from their previous estimate of $1.11. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for Shockwave Medical’s Q1 2025 earnings at $1.25 EPS, Q2 2025 earnings at $1.40 EPS and FY2025 earnings at $5.99 EPS.

Other equities research analysts also recently issued research reports about the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 price objective (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler increased 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. Morgan Stanley restated an “equal weight” rating and set a $335.00 price target (up from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Wells Fargo & Company increased 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 note on Friday, February 16th. Ten investment 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 company has an average rating of “Hold” and an average target price of $309.11.

Shockwave Medical Price Performance

SWAV opened at $327.50 on Thursday. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 2.43 and a beta of 0.92. The firm has a 50 day moving average price of $282.20 and a 200-day moving average price of $227.08. Shockwave Medical has a twelve month low of $157.00 and a twelve month 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.

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

Hedge Funds Weigh In On Shockwave Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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. Riverview Trust Co purchased a new stake in shares of Shockwave Medical in the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Shockwave Medical by 297.4% during the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after purchasing an additional 116 shares in the last quarter. Rise Advisors LLC purchased a new position in Shockwave Medical during the first quarter valued at approximately $32,000. Finally, Quarry LP bought a new position in Shockwave Medical in the fourth quarter worth approximately $33,000. Institutional investors own 95.35% of the company’s stock.

Insider Activity

In related news, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the sale, the director now directly owns 3,551 shares in the company, valued at $1,065,300. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical 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 completion of the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Trinh Phung sold 599 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the completion of the sale, the vice president now directly owns 31,031 shares of the company’s stock, valued at approximately $8,044,476.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,813 shares of company stock valued at $23,762,679. 3.40% of the stock is currently owned by insiders.

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.