Point72 Europe London LLP Invests $14.42 Million in Shockwave Medical, Inc. (NASDAQ:SWAV)

Point72 Europe London LLP purchased a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 75,690 shares of the company’s stock, valued at approximately $14,423,000. Shockwave Medical comprises about 1.8% of Point72 Europe London LLP’s holdings, making the stock its 14th largest holding. Point72 Europe London LLP owned 0.21% of Shockwave Medical at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd increased its stake in Shockwave Medical by 484.9% in the third quarter. Covestor Ltd now owns 427 shares of the company’s stock valued at $85,000 after purchasing an additional 354 shares in the last quarter. International Assets Investment Management LLC increased its stake in Shockwave Medical by 18,122.1% in the fourth quarter. International Assets Investment Management LLC now owns 141,586 shares of the company’s stock valued at $26,981,000 after purchasing an additional 140,809 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Shockwave Medical in the fourth quarter valued at approximately $6,683,000. Massachusetts Financial Services Co. MA increased its stake in Shockwave Medical by 29.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 224,589 shares of the company’s stock valued at $42,798,000 after purchasing an additional 50,478 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Shockwave Medical by 109.0% in the third quarter. American Century Companies Inc. now owns 170,866 shares of the company’s stock valued at $34,019,000 after purchasing an additional 89,094 shares in the last quarter. 95.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on SWAV shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. SVB Leerink restated a “market perform” rating and set a $335.00 target price (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 research note on Thursday, February 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $335.00 price target (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $335.00 price target (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $309.11.

Insider Buying and Selling at Shockwave Medical

In other news, Director Laura Francis sold 1,500 shares of the firm’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 sale, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total transaction of $450,000.00. Following the sale, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the sale, the insider now owns 56,818 shares in the company, valued at $16,344,834.06. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Shockwave Medical Price Performance

NASDAQ:SWAV remained flat at $334.75 during mid-day trading on Tuesday. Shockwave Medical, Inc. has a 1 year low of $157.00 and a 1 year high of $334.90. The firm has a market cap of $12.57 billion, a P/E ratio of 78.21, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. The firm has a 50 day moving average of $330.16 and a two-hundred day moving average of $264.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.81 and a quick ratio of 12.61.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same period last year, the firm earned $1.03 earnings per share. Shockwave Medical’s revenue for the quarter was up 35.8% compared to the same quarter last year. Analysts forecast that Shockwave Medical, Inc. will post 5.05 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.