Shockwave Medical, Inc. (NASDAQ:SWAV) Sees Large Decline in Short Interest

Shockwave Medical, Inc. (NASDAQ:SWAV) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,470,000 shares, a decline of 27.6% from the March 31st total of 2,030,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 1.4 days.

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the transaction, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $229.76, for a total transaction of $782,562.56. Following the completion of the transaction, the chief financial officer now directly owns 27,732 shares of the company’s stock, valued at approximately $6,371,704.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Francis sold 1,500 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were 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 $1,065,300. The disclosure for this sale can be found here. In the last three months, insiders sold 89,813 shares of company stock valued at $22,863,919. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new position in Shockwave Medical in the 1st quarter valued at approximately $28,000. Lindbrook Capital LLC increased its stake in 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 buying an additional 59 shares during the period. Riverview Trust Co acquired a new position in Shockwave Medical in the 1st quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its stake in Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after buying an additional 116 shares during the period. Finally, Rise Advisors LLC acquired a new position in Shockwave Medical in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 95.35% of the company’s stock.

Shockwave Medical Trading Up 0.3 %

Shares of SWAV stock traded up $1.01 during trading hours on Friday, reaching $330.00. 575,689 shares of the stock traded hands, compared to its average volume of 2,009,896. Shockwave Medical has a 1-year low of $157.00 and a 1-year high of $331.58. The business has a fifty day moving average price of $294.88 and a 200 day moving average price of $233.25. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $12.34 billion, a PE ratio of 85.27, a PEG ratio of 2.44 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The business had revenue of $202.98 million for the quarter, compared to analyst estimates of $199.43 million. During the same quarter in the previous year, the business earned $3.71 earnings per share. The firm’s revenue was up 41.0% compared to the same quarter last year. On average, equities research analysts forecast that Shockwave Medical will post 4.94 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SWAV. Piper Sandler upped their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. 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, the stock has a consensus rating of “Hold” and a consensus price target of $309.11.

About Shockwave Medical

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.