Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in Shockwave Medical, Inc. (NASDAQ:SWAV) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,821 shares of the company’s stock after selling 1,738 shares during the quarter. California Public Employees Retirement System owned about 0.14% of Shockwave Medical worth $10,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SWAV. Wellington Management Group LLP increased its stake in shares of Shockwave Medical by 33.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock worth $359,529,000 after acquiring an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Shockwave Medical by 21.8% in the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock valued at $278,369,000 after purchasing an additional 250,352 shares during the period. Allspring Global Investments Holdings LLC increased its position in Shockwave Medical by 35.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 645,634 shares of the company’s stock worth $128,546,000 after purchasing an additional 170,369 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Shockwave Medical by 66.7% during the third quarter. Canada Pension Plan Investment Board now owns 386,321 shares of the company’s stock worth $76,917,000 after purchasing an additional 154,637 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Shockwave Medical by 18,122.1% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. SVB Leerink reissued a “market perform” rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, CL King reissued a “neutral” rating 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Trading Down 0.1 %

Shares of SWAV stock opened at $329.84 on Thursday. Shockwave Medical, Inc. has a fifty-two week low of $157.00 and a fifty-two week high of $331.58. The company has a 50 day moving average price of $299.06 and a 200 day moving average price of $236.28. The stock has a market capitalization of $12.37 billion, a P/E ratio of 85.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76.

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

Insider Buying and Selling

In other news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction dated Tuesday, March 26th. The stock was 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 owns 3,551 shares in the company, valued at approximately $1,065,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Laura Francis sold 1,500 shares of the company’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 transaction of $450,000.00. Following the sale, the director now directly owns 3,551 shares in the company, valued at $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas Evan Godshall sold 10,000 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the completion of the transaction, the chief executive officer now 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. Insiders sold 86,407 shares of company stock valued at $22,081,356 in the last three months. 3.40% of the stock is owned by corporate 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.