Shockwave Medical, Inc. (NASDAQ:SWAV) Expected to Post Q1 2024 Earnings of $0.98 Per Share

Shockwave Medical, Inc. (NASDAQ:SWAV) – Zacks Research upped their Q1 2024 earnings per share (EPS) estimates for shares of Shockwave Medical in a research note issued on Tuesday, April 16th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will earn $0.98 per share for the quarter, up from their prior estimate of $0.92. The consensus estimate for Shockwave Medical’s current full-year earnings is $4.94 per share. Zacks Research also issued estimates for Shockwave Medical’s Q2 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.48 EPS, FY2024 earnings at $4.83 EPS, Q3 2025 earnings at $1.51 EPS, Q4 2025 earnings at $1.83 EPS, Q1 2026 earnings at $1.60 EPS and FY2026 earnings at $7.34 EPS.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 41.0% compared to the same quarter last year. During the same period last year, the company posted $3.71 earnings per share.

A number of other research analysts have also recently weighed in on SWAV. Wolfe Research reiterated a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Morgan Stanley reissued an “equal weight” rating and set a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Leerink Partnrs downgraded Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Piper Sandler boosted their price objective on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $309.11.

Shockwave Medical Trading Up 0.0 %

NASDAQ SWAV opened at $327.52 on Wednesday. The business’s fifty day moving average is $282.20 and its 200-day moving average is $227.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 2.43 and a beta of 0.92. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58.

Institutional Investors Weigh In On Shockwave Medical

A number of large investors have recently made changes to their positions in SWAV. Lindbrook Capital LLC raised its stake in Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Riverview Trust Co bought a new position in shares of Shockwave Medical in the 1st quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its position in shares of Shockwave Medical by 297.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after acquiring an additional 116 shares in the last quarter. Rise Advisors LLC purchased a new position in shares of Shockwave Medical in the 1st quarter valued at approximately $32,000. Finally, Quarry LP bought a new stake in shares of Shockwave Medical during the fourth quarter valued at approximately $33,000. 95.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value of $2,315,600.00. Following the completion of the sale, the chief executive officer now owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $224.69, for a total value of $898,760.00. Following the completion of the sale, the insider now owns 63,920 shares in the company, valued at $14,362,184.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,813 shares of company stock worth $23,762,679. 3.40% of the stock is currently owned by insiders.

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.