Axa S.A. Boosts Holdings in ShockWave Medical, Inc. (NASDAQ:SWAV)

Posted by Defense World Staff on Feb 26th, 2023

Axa S.A. grew its stake in shares of ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 39.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,600 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. Axa S.A.’s holdings in ShockWave Medical were worth $4,338,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in ShockWave Medical in the third quarter valued at approximately $5,561,000. Oberweis Asset Management Inc. boosted its holdings in ShockWave Medical by 143.5% during the 3rd quarter. Oberweis Asset Management Inc. now owns 2,800 shares of the company’s stock valued at $779,000 after acquiring an additional 1,650 shares during the period. MetLife Investment Management LLC boosted its stake in shares of ShockWave Medical by 0.6% in the 3rd quarter. MetLife Investment Management LLC now owns 41,258 shares of the company’s stock valued at $11,473,000 after buying an additional 250 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of ShockWave Medical in the 3rd quarter valued at about $58,000. Finally, Pictet Asset Management SA raised its position in shares of ShockWave Medical by 8.5% during the 3rd quarter. Pictet Asset Management SA now owns 2,421 shares of the company’s stock worth $673,000 after acquiring an additional 189 shares in the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.

ShockWave Medical Price Performance

Shares of NASDAQ SWAV opened at $187.46 on Friday. ShockWave Medical, Inc. has a 1-year low of $113.36 and a 1-year high of $320.54. The business has a 50-day moving average of $195.43 and a 200-day moving average of $244.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.25 and a quick ratio of 6.06. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 32.89 and a beta of 0.97.

ShockWave Medical (NASDAQ:SWAV – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $3.71 earnings per share for the quarter, topping the consensus estimate of $0.99 by $2.72. The company had revenue of $144.00 million during the quarter, compared to the consensus estimate of $143.04 million. ShockWave Medical had a return on equity of 59.99% and a net margin of 44.10%. The company’s revenue was up 71.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities analysts anticipate that ShockWave Medical, Inc. will post 3.91 EPS for the current fiscal year.

Insider Activity at ShockWave Medical

In related news, CFO Dan Puckett sold 1,100 shares of the stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $212.93, for a total value of $234,223.00. Following the completion of the transaction, the chief financial officer now owns 39,938 shares of the company’s stock, valued at $8,503,998.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $209.59, for a total transaction of $838,360.00. Following the transaction, the insider now owns 73,021 shares of the company’s stock, valued at approximately $15,304,471.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dan Puckett sold 1,100 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $212.93, for a total value of $234,223.00. Following the transaction, the chief financial officer now directly owns 39,938 shares in the company, valued at approximately $8,503,998.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,678 shares of company stock valued at $11,862,603. Insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SWAV shares. Deutsche Bank Aktiengesellschaft started coverage on ShockWave Medical in a research report on Friday, December 16th. They set a “buy” rating and a $285.00 price target on the stock. Canaccord Genuity Group boosted their target price on ShockWave Medical from $247.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Wells Fargo & Company boosted their target price on ShockWave Medical from $200.00 to $207.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Piper Sandler cut their price target on ShockWave Medical from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, January 26th. Finally, Morgan Stanley cut their price target on ShockWave Medical from $290.00 to $224.00 and set an “equal weight” rating for the company in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.22.

ShockWave Medical Profile

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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.