Beck Bode LLC Invests $5.80 Million in Shockwave Medical, Inc. (NASDAQ:SWAV)

Beck Bode LLC bought a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,422 shares of the company’s stock, valued at approximately $5,797,000. Shockwave Medical accounts for about 1.3% of Beck Bode LLC’s investment portfolio, making the stock its 26th biggest position. Beck Bode LLC owned 0.08% of Shockwave Medical at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its stake in Shockwave Medical by 11.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after purchasing an additional 50 shares during the period. Linden Thomas Advisory Services LLC bought a new position in Shockwave Medical in the 3rd quarter valued at $366,000. Robbins Farley grew its stake in Shockwave Medical by 7.3% in the 3rd quarter. Robbins Farley now owns 4,497 shares of the company’s stock valued at $895,000 after purchasing an additional 306 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Shockwave Medical by 10.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,455 shares of the company’s stock valued at $3,077,000 after purchasing an additional 1,490 shares during the period. Finally, Wealth Management Partners LLC grew its stake in Shockwave Medical by 19.3% in the 3rd quarter. Wealth Management Partners LLC now owns 4,669 shares of the company’s stock valued at $930,000 after purchasing an additional 756 shares during the period. 95.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Shockwave Medical

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total transaction of $298,815.66. Following the completion of the transaction, the vice president now owns 32,933 shares in the company, valued at $7,646,383.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Trinh Phung sold 1,287 shares of Shockwave Medical stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total value of $298,815.66. Following the completion of the sale, the vice president now owns 32,933 shares of the company’s stock, valued at $7,646,383.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Francis sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $250.00, for a total value of $250,000.00. Following the sale, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $887,750. The disclosure for this sale can be found here. Insiders have sold 89,813 shares of company stock worth $22,863,919 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 price target (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Piper Sandler increased their price target on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Price Performance

Shares of NASDAQ SWAV traded up $0.68 during trading hours on Tuesday, reaching $330.19. 711,431 shares of the stock traded hands, compared to its average volume of 945,777. The company has a market capitalization of $12.35 billion, a P/E ratio of 85.32, a price-to-earnings-growth ratio of 2.45 and a beta of 0.92. 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’s 50-day simple moving average is $296.22 and its two-hundred day simple moving average is $234.65.

Shockwave Medical (NASDAQ:SWAV) last posted its quarterly earnings results 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. The business had revenue of $202.98 million for 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 for the quarter was up 41.0% compared to the same quarter last year. During the same period last year, the company earned $3.71 EPS. Equities research analysts forecast that Shockwave Medical, Inc. will post 4.94 EPS 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.