Primecap Management Co. CA Has $53.89 Million Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

Primecap Management Co. CA increased its stake in Shockwave Medical, Inc. (NASDAQ:SWAVFree Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 282,770 shares of the company’s stock after acquiring an additional 2,100 shares during the quarter. Primecap Management Co. CA’s holdings in Shockwave Medical were worth $53,885,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Covestor Ltd lifted its holdings in shares of Shockwave Medical by 484.9% in the 3rd quarter. Covestor Ltd now owns 427 shares of the company’s stock worth $85,000 after purchasing an additional 354 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 worth $26,981,000 after purchasing an additional 140,809 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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. American Century Companies Inc. boosted its position in shares of Shockwave Medical by 109.0% during the third quarter. American Century Companies Inc. now owns 170,866 shares of the company’s stock valued at $34,019,000 after buying an additional 89,094 shares during the last quarter. Finally, AMI Asset Management Corp purchased a new stake in Shockwave Medical in the 4th quarter valued at $4,092,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SWAV. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Canaccord Genuity Group restated a “hold” rating and issued a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Needham & Company LLC reiterated a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $335.00 price objective (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Shockwave Medical presently has a consensus rating of “Hold” and a consensus price target of $309.11.

Read Our Latest Report on Shockwave Medical

Shockwave Medical Price Performance

NASDAQ SWAV traded up $0.05 on Friday, hitting $334.15. The stock had a trading volume of 1,191,361 shares, compared to its average volume of 773,484. The firm has a 50-day moving average of $322.64 and a 200-day moving average of $251.08. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 78.07, a price-to-earnings-growth ratio of 2.43 and a beta of 0.88. The company has a debt-to-equity ratio of 0.97, a quick ratio of 12.61 and a current ratio of 13.81. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week high of $334.28.

Shockwave Medical (NASDAQ:SWAVGet Free Report) last posted its earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.99 by $0.45. The business had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $207.69 million. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The firm’s revenue was up 35.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. Equities analysts expect that Shockwave Medical, Inc. will post 5.05 EPS for the current year.

Insider Buying and Selling

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $260.36, for a total value of $1,041,440.00. Following the completion of the transaction, the insider now owns 61,372 shares of the company’s stock, valued at approximately $15,978,813.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $260.36, for a total value of $1,041,440.00. Following the completion of the sale, the insider now directly owns 61,372 shares of the company’s stock, valued at approximately $15,978,813.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,521 shares of company stock worth $3,154,736. Insiders own 3.40% of the company’s stock.

Shockwave Medical Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Shockwave Medical (NASDAQ:SWAV)

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