Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its holdings in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,035 shares of the company’s stock after selling 1,809 shares during the period. Raymond James & Associates’ holdings in Shockwave Medical were worth $1,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SWAV. Bank of New York Mellon Corp raised its position in Shockwave Medical by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 151,238 shares of the company’s stock worth $31,361,000 after acquiring an additional 3,771 shares during the last quarter. Rhumbline Advisers raised its position in shares of Shockwave Medical by 1.5% in the first quarter. Rhumbline Advisers now owns 35,441 shares of the company’s stock valued at $7,349,000 after buying an additional 526 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Shockwave Medical in the first quarter valued at approximately $407,000. Canada Pension Plan Investment Board raised its position in shares of Shockwave Medical by 36.3% in the first quarter. Canada Pension Plan Investment Board now owns 800 shares of the company’s stock valued at $166,000 after buying an additional 213 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Shockwave Medical by 2.1% in the first quarter. Vanguard Group Inc. now owns 3,311,557 shares of the company’s stock valued at $686,685,000 after buying an additional 67,789 shares during the last quarter. Institutional investors and hedge funds own 95.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SWAV. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, 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 report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $309.11.

Insiders Place Their Bets

In other Shockwave Medical news, Director Frederic H. Moll sold 60,000 shares of the business’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 transaction of $15,443,400.00. Following the completion of the sale, the director now directly owns 287,521 shares in the company, valued at $74,005,030.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the completion of the sale, the director now directly owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the sale, the insider now directly owns 63,920 shares of the company’s stock, valued at $14,362,184.80. The disclosure for this sale can be found here. Insiders sold a total of 93,813 shares of company stock worth $23,762,679 over the last ninety days. 3.40% of the stock is owned by company insiders.

Shockwave Medical Price Performance

SWAV opened at $329.00 on Friday. 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, Inc. has a 52-week low of $157.00 and a 52-week high of $331.58. The company has a 50 day moving average of $284.02 and a two-hundred day moving average of $227.77. The company has a market cap of $12.30 billion, a P/E ratio of 85.01, a P/E/G ratio of 2.43 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $199.43 million. During the same period in the previous year, the firm earned $3.71 earnings per share. Shockwave Medical’s revenue for the quarter was up 41.0% on a year-over-year basis. On average, analysts expect that Shockwave Medical, Inc. will post 4.94 earnings per share for the current year.

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.