Research Analysts Set Expectations for Shockwave Medical, Inc.’s Q2 2024 Earnings (NASDAQ:SWAV)

Shockwave Medical, Inc. (NASDAQ:SWAV) – Zacks Research reduced their Q2 2024 EPS estimates for Shockwave Medical in a note issued to investors on Monday, May 20th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will post earnings of $1.16 per share for the quarter, down from their previous estimate of $1.18. The consensus estimate for Shockwave Medical’s current full-year earnings is $5.05 per share. Zacks Research also issued estimates for Shockwave Medical’s Q3 2024 earnings at $1.08 EPS, Q4 2024 earnings at $1.35 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.70 EPS, FY2025 earnings at $5.41 EPS, Q1 2026 earnings at $1.46 EPS and FY2026 earnings at $6.54 EPS.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The company had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $207.69 million. During the same period last year, the business posted $1.03 earnings per share. The firm’s revenue was up 35.8% compared to the same quarter last year.

A number of other research firms also recently commented on SWAV. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $335.00 price objective (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. TheStreet upgraded shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Shockwave Medical presently has an average rating of “Hold” and an average target price of $309.11.

Shockwave Medical Price Performance

NASDAQ SWAV opened at $334.10 on Wednesday. The stock’s fifty day moving average price is $320.08 and its 200 day moving average price is $249.16. Shockwave Medical has a 1 year low of $157.00 and a 1 year high of $334.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.81 and a quick ratio of 12.61. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 78.06, a PEG ratio of 2.40 and a beta of 0.88.

Institutional Trading of Shockwave Medical

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Shockwave Medical by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock valued at $692,442,000 after purchasing an additional 33,539 shares during the last quarter. FMR LLC raised 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 buying an additional 92,919 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Shockwave Medical by 36.8% during the 4th quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after acquiring an additional 664,648 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Shockwave Medical by 7.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock valued at $284,981,000 after acquiring an additional 97,356 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in shares of Shockwave Medical by 42.3% during the 4th quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock worth $96,465,000 after acquiring an additional 150,503 shares in the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Insider Activity

In other news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Laura Francis sold 1,500 shares of Shockwave Medical stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the completion of the sale, the director now owns 3,551 shares in the company, valued at approximately $1,065,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $260.36, for a total value of $1,041,440.00. Following the transaction, the insider now owns 61,372 shares in the company, valued at $15,978,813.92. The disclosure for this sale can be found here. Insiders sold 11,521 shares of company stock worth $3,154,736 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

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.