Retirement Systems of Alabama Has $8.81 Million Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

Retirement Systems of Alabama grew its position in Shockwave Medical, Inc. (NASDAQ:SWAV) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,211 shares of the company’s stock after purchasing an additional 324 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Shockwave Medical worth $8,806,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of Shockwave Medical by 64.8% in the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 during the period. Asset Management One Co. Ltd. bought a new position in shares of Shockwave Medical during the 4th quarter worth about $34,000. Operose Advisors LLC acquired a new stake in shares of Shockwave Medical in the 3rd quarter valued at about $49,000. Finally, Venturi Wealth Management LLC bought a new stake in Shockwave Medical in the 3rd quarter valued at about $82,000. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Shockwave Medical news, Director Frederic H. Moll sold 60,000 shares of the business’s stock in a transaction dated 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 directly owns 287,521 shares in the company, valued at $74,005,030.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Shockwave Medical 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 of the company’s stock, valued at $1,065,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic H. Moll sold 60,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 287,521 shares in the company, valued at $74,005,030.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,407 shares of company stock worth $22,081,356. Insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

SWAV has been the subject of several recent research reports. SVB Leerink restated a “market perform” rating and set a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler upped their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company lifted their price target on Shockwave Medical from $200.00 to $210.00 and gave the company 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $309.11.

Shockwave Medical Stock Performance

Shares of SWAV opened at $330.38 on Friday. The stock has a 50 day moving average of $301.64 and a 200 day moving average of $237.81. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 85.37, a PEG ratio of 2.45 and a beta of 0.88. Shockwave Medical, Inc. has a 12 month low of $157.00 and a 12 month high of $331.58. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09.

Shockwave Medical (NASDAQ:SWAV) last announced its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.24. The firm 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%. The business’s revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted $3.71 EPS. As a group, sell-side analysts forecast that Shockwave Medical, Inc. will post 4.94 earnings per share for the current year.

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.