New York State Common Retirement Fund Purchases 2,442 Shares of Shockwave Medical, Inc. (NASDAQ:SWAV)

Posted by Defense World Staff on Apr 14th, 2023

New York State Common Retirement Fund boosted its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 215,536 shares of the company’s stock after purchasing an additional 2,442 shares during the period. New York State Common Retirement Fund owned about 0.60% of Shockwave Medical worth $44,316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tobam bought a new position in Shockwave Medical during the 3rd quarter valued at about $32,000. PenderFund Capital Management Ltd. bought a new position in shares of Shockwave Medical in the first quarter worth about $41,000. Trifecta Capital Advisors LLC bought a new position in shares of Shockwave Medical in the fourth quarter worth about $41,000. Altshuler Shaham Ltd bought a new position in shares of Shockwave Medical in the third quarter worth about $58,000. Finally, Sentry Investment Management LLC bought a new position in shares of Shockwave Medical in the third quarter worth about $64,000. 90.56% of the stock is owned by institutional investors.

Shockwave Medical Stock Up 3.8 %

Shares of NASDAQ:SWAV opened at $258.04 on Friday. Shockwave Medical, Inc. has a 52 week low of $113.36 and a 52 week high of $320.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.06 and a current ratio of 7.25. The company has a market capitalization of $9.42 billion, a PE ratio of 45.27 and a beta of 0.98. The company has a 50 day moving average price of $203.28 and a two-hundred day moving average price of $226.01.

Shockwave Medical (NASDAQ:SWAV – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $3.71 EPS for the quarter, beating the consensus estimate of $0.99 by $2.72. Shockwave Medical had a net margin of 44.10% and a return on equity of 59.99%. The firm had revenue of $144.00 million during the quarter, compared to the consensus estimate of $143.04 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 71.0% on a year-over-year basis. Analysts forecast that Shockwave Medical, Inc. will post 3.92 earnings per share for the current year.

Insider Transactions at Shockwave Medical

In other news, VP Trinh Phung sold 640 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $188.09, for a total transaction of $120,377.60. Following the completion of the sale, the vice president now owns 23,879 shares of the company’s stock, valued at $4,491,401.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Trinh Phung sold 640 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $188.09, for a total transaction of $120,377.60. Following the completion of the sale, the vice president now owns 23,879 shares of the company’s stock, valued at $4,491,401.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Puckett sold 1,100 shares of the stock in a transaction on Friday, January 20th. The stock was sold at an average price of $177.45, for a total transaction of $195,195.00. Following the sale, the chief financial officer now directly owns 39,938 shares of the company’s stock, valued at approximately $7,086,998.10. The disclosure for this sale can be found here. Insiders sold 58,678 shares of company stock valued at $11,192,344 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

SWAV has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on shares of Shockwave Medical from $240.00 to $283.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America boosted their target price on shares of Shockwave Medical from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Shockwave Medical from $290.00 to $224.00 and set an “equal weight” rating for the company in a research note on Friday, January 6th. Piper Sandler dropped their price target on shares of Shockwave Medical from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, January 26th. Finally, TheStreet raised shares of Shockwave Medical from a “c” rating to a “b-” rating in a research note on Friday, March 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.44.

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.