Shockwave Medical (NASDAQ:SWAV) Releases Earnings Results, Beats Expectations By $0.45 EPS

Shockwave Medical (NASDAQ:SWAV) posted its quarterly earnings data on Monday. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.45, Briefing.com reports. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $207.69 million. During the same period in the prior year, the company posted $1.03 earnings per share. Shockwave Medical’s revenue for the quarter was up 35.8% compared to the same quarter last year.

Shockwave Medical Stock Down 0.1 %

Shares of NASDAQ:SWAV opened at $330.00 on Tuesday. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. Shockwave Medical has a 12-month low of $157.00 and a 12-month high of $331.58. The stock’s 50-day moving average price is $303.04 and its 200-day moving average price is $239.12. The stock has a market capitalization of $12.38 billion, a P/E ratio of 85.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Analyst Upgrades and Downgrades

A number of research firms have commented on SWAV. CL King restated a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler upped their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their target price on Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Wolfe Research restated a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Finally, Leerink Partnrs downgraded shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $309.11.

Insider Activity

In other Shockwave Medical news, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total value of $15,443,400.00. Following the sale, the director now owns 287,521 shares of the company’s stock, valued at approximately $74,005,030.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Frederic H. Moll sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total value of $15,443,400.00. Following the sale, the director now directly owns 287,521 shares of the company’s stock, valued at $74,005,030.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the company’s 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 transaction, 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. Over the last 90 days, insiders sold 83,120 shares of company stock valued at $21,319,021. 3.40% of the stock is currently owned by company insiders.

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.