ShockWave Medical (NASDAQ:SWAV) Issues FY 2021 Earnings Guidance

ShockWave Medical (NASDAQ:SWAV) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $195 million-205 million, compared to the consensus revenue estimate of $158.99 million.

Several research firms recently weighed in on SWAV. Zacks Investment Research upgraded ShockWave Medical from a sell rating to a hold rating and set a $172.00 price target on the stock in a research note on Wednesday, April 21st. Oppenheimer reaffirmed a hold rating on shares of ShockWave Medical in a research report on Wednesday, April 28th. Canaccord Genuity upped their price objective on ShockWave Medical from $149.00 to $202.00 and gave the company a buy rating in a research report on Tuesday, May 11th. Bank of America raised ShockWave Medical from a neutral rating to a buy rating and set a $180.00 price objective on the stock in a research report on Tuesday, May 11th. Finally, Piper Sandler raised ShockWave Medical from a neutral rating to an overweight rating and upped their price objective for the company from $134.00 to $165.00 in a research report on Tuesday, May 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $176.67.

Shares of NASDAQ SWAV traded up $0.50 during midday trading on Friday, hitting $173.96. 2,932 shares of the stock traded hands, compared to its average volume of 432,243. The stock has a 50-day moving average price of $156.15. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of -83.39 and a beta of 1.29. The company has a quick ratio of 5.96, a current ratio of 6.96 and a debt-to-equity ratio of 0.06. ShockWave Medical has a one year low of $41.77 and a one year high of $182.28.

ShockWave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 10th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.26). The firm had revenue of $31.90 million for the quarter, compared to the consensus estimate of $31.33 million. ShockWave Medical had a negative net margin of 83.47% and a negative return on equity of 30.92%. ShockWave Medical’s quarterly revenue was up 109.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.59) earnings per share. On average, equities analysts anticipate that ShockWave Medical will post -1.59 earnings per share for the current year.

In related news, Director Colin Cahill sold 634 shares of the firm’s stock in a transaction on Monday, May 17th. The stock was sold at an average price of $157.38, for a total value of $99,778.92. Following the transaction, the director now directly owns 8,494 shares of the company’s stock, valued at approximately $1,336,785.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dan Puckett sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $178.66, for a total value of $446,650.00. Following the completion of the transaction, the chief financial officer now directly owns 46,129 shares in the company, valued at $8,241,407.14. The disclosure for this sale can be found here. Insiders have sold a total of 163,491 shares of company stock worth $26,613,364 over the last three months. Insiders own 15.30% of the company’s stock.

ShockWave Medical Company Profile

ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee peripheral artery disease.

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Earnings History and Estimates for ShockWave Medical (NASDAQ:SWAV)

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