Shockwave Medical, Inc. (NASDAQ:SWAV) Stake Lowered by Xponance Inc.

Xponance Inc. cut its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,901 shares of the company’s stock after selling 375 shares during the quarter. Xponance Inc.’s holdings in Shockwave Medical were worth $1,506,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SWAV. Wellington Management Group LLP grew its holdings in shares of Shockwave Medical by 33.5% during the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock valued at $359,529,000 after purchasing an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Shockwave Medical by 21.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock worth $278,369,000 after buying an additional 250,352 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of 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 buying an additional 170,369 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of 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 buying an additional 154,637 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Shockwave Medical by 18,122.1% during the fourth quarter. International Assets Investment Management LLC now owns 141,586 shares of the company’s stock worth $26,981,000 after buying an additional 140,809 shares during the period. 95.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SWAV. Leerink Partnrs downgraded Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. TheStreet upgraded Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. CL King restated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Morgan Stanley restated an “equal weight” rating and issued a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Piper Sandler upped their target price on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $309.11.

Insider Buying and Selling at Shockwave Medical

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the sale, the insider now directly owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Shockwave Medical news, CFO Dan Puckett sold 3,406 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $229.76, for a total transaction of $782,562.56. Following the sale, the chief financial officer now directly owns 27,732 shares of the company’s stock, valued at approximately $6,371,704.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $224.69, for a total transaction of $898,760.00. Following the completion of the transaction, the insider now directly owns 63,920 shares in the company, valued at $14,362,184.80. The disclosure for this sale can be found here. Insiders have sold a total of 93,813 shares of company stock valued at $23,762,679 in the last three months. 3.40% of the stock is currently owned by company insiders.

Shockwave Medical Price Performance

Shares of NASDAQ:SWAV opened at $328.54 on Wednesday. Shockwave Medical, Inc. has a one year low of $157.00 and a one year high of $331.58. The stock has a fifty day moving average of $289.72 and a 200-day moving average of $231.00. The company has a market capitalization of $12.29 billion, a PE ratio of 84.89, a price-to-earnings-growth ratio of 2.44 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 announced its quarterly earnings data on Thursday, February 15th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The company had revenue of $202.98 million during the quarter, compared to the consensus estimate of $199.43 million. During the same quarter in the prior year, the firm earned $3.71 EPS. The company’s quarterly revenue was up 41.0% compared to the same quarter last year. As a group, equities analysts anticipate that Shockwave Medical, Inc. will post 4.94 EPS for the current fiscal year.

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.