Next Century Growth Investors LLC reduced its position in shares of ShockWave Medical, Inc. (NASDAQ:SWAV) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,856 shares of the company’s stock after selling 3,288 shares during the period. Next Century Growth Investors LLC’s holdings in ShockWave Medical were worth $3,577,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in shares of ShockWave Medical by 3.9% during the first quarter. Stifel Financial Corp now owns 48,707 shares of the company’s stock worth $6,345,000 after purchasing an additional 1,835 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of ShockWave Medical by 9.2% during the second quarter. Alliancebernstein L.P. now owns 41,589 shares of the company’s stock worth $7,891,000 after purchasing an additional 3,500 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of ShockWave Medical by 22.0% during the second quarter. Victory Capital Management Inc. now owns 8,141 shares of the company’s stock worth $1,545,000 after purchasing an additional 1,470 shares during the last quarter. Swiss National Bank grew its holdings in shares of ShockWave Medical by 8.6% during the second quarter. Swiss National Bank now owns 68,000 shares of the company’s stock worth $12,902,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in ShockWave Medical by 11.8% in the second quarter. Rhumbline Advisers now owns 34,475 shares of the company’s stock valued at $6,541,000 after acquiring an additional 3,641 shares during the last quarter. Institutional investors own 91.18% of the company’s stock.
SWAV traded down $7.20 during midday trading on Thursday, reaching $191.68. The company had a trading volume of 6,520 shares, compared to its average volume of 377,769. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.65 and a current ratio of 6.66. The stock has a market cap of $6.74 billion, a PE ratio of -129.99 and a beta of 1.28. ShockWave Medical, Inc. has a 12-month low of $66.09 and a 12-month high of $237.76. The business has a 50-day moving average price of $206.61 and a two-hundred day moving average price of $180.16.
Several analysts recently commented on the company. SVB Leerink upped their target price on ShockWave Medical from $208.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, August 10th. Wells Fargo & Company downgraded shares of ShockWave Medical from an “overweight” rating to an “equal weight” rating and set a $189.00 target price for the company. in a research report on Friday, June 18th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of ShockWave Medical from $152.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 10th. Bank of America cut shares of ShockWave Medical from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $180.00 to $200.00 in a report on Monday, July 12th. Finally, Zacks Investment Research upgraded shares of ShockWave Medical from a “hold” rating to a “buy” rating and set a $235.00 price target on the stock in a report on Friday, August 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, ShockWave Medical has a consensus rating of “Buy” and a consensus price target of $207.57.
In other ShockWave Medical news, CFO Dan Puckett sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $195.47, for a total transaction of $488,675.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas Evan Godshall sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $188.08, for a total value of $8,463,600.00. Following the transaction, the chief executive officer now owns 181,856 shares in the company, valued at approximately $34,203,476.48. The disclosure for this sale can be found here. In the last three months, insiders sold 66,508 shares of company stock valued at $12,713,199. 15.30% of the stock is currently owned by corporate insiders.
ShockWave Medical Profile
Shockwave Medical, Inc operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The firm offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters or treating below-the-knee peripheral artery disease.
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