Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Bought by South Dakota Investment Council

South Dakota Investment Council raised its position in Shockwave Medical, Inc. (NASDAQ:SWAV) by 55.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,524 shares of the company’s stock after acquiring an additional 3,410 shares during the period. South Dakota Investment Council’s holdings in Shockwave Medical were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in Shockwave Medical by 3.8% in the third quarter. FMR LLC now owns 2,527,893 shares of the company’s stock valued at $503,303,000 after acquiring an additional 92,919 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Shockwave Medical by 33.5% in the third quarter. Wellington Management Group LLP now owns 1,805,771 shares of the company’s stock worth $359,529,000 after buying an additional 453,048 shares during the last quarter. Artisan Partners Limited Partnership raised 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 worth $278,369,000 after buying an additional 250,352 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Shockwave Medical by 35.8% in 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 last quarter. Finally, Canada Pension Plan Investment Board raised its holdings 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 purchasing an additional 154,637 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $224.69, for a total value of $898,760.00. Following the completion of the transaction, the insider now owns 63,920 shares in the company, valued at approximately $14,362,184.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Dan Puckett sold 3,406 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $229.76, for a total value of $782,562.56. Following the completion of the transaction, the chief financial officer now owns 27,732 shares in the company, valued at approximately $6,371,704.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the completion of the sale, 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. In the last quarter, insiders sold 93,813 shares of company stock worth $23,762,679. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. SVB Leerink restated a “market perform” rating and set a $335.00 price target (down from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Wells Fargo & Company lifted their target price 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 downgraded shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. 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 has an average rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Trading Up 0.1 %

NASDAQ SWAV opened at $328.87 on Thursday. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. Shockwave Medical, Inc. has a 52 week low of $157.00 and a 52 week high of $331.58. The stock has a market capitalization of $12.30 billion, a PE ratio of 84.98, a price-to-earnings-growth ratio of 2.44 and a beta of 0.92. The firm has a 50 day moving average of $291.68 and a two-hundred day moving average of $231.69.

Shockwave Medical (NASDAQ:SWAV) last issued its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter in the prior year, the business posted $3.71 EPS. The company’s revenue for the quarter was up 41.0% on a year-over-year basis. As a group, research analysts expect that Shockwave Medical, Inc. will post 4.94 EPS for the current fiscal year.

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.