Handelsbanken Fonder AB Has $1.09 Million Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Posted by Defense World Staff on May 5th, 2023

Handelsbanken Fonder AB boosted its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Shockwave Medical were worth $1,090,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tobam acquired a new position in Shockwave Medical during the 3rd quarter valued at $32,000. PenderFund Capital Management Ltd. acquired a new position in Shockwave Medical during the 1st quarter valued at $41,000. Anfield Capital Management LLC acquired a new position in Shockwave Medical during the 4th quarter valued at $38,000. Trifecta Capital Advisors LLC acquired a new position in shares of Shockwave Medical in the 4th quarter valued at $41,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Shockwave Medical in the 3rd quarter valued at $58,000. 90.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Trinh Phung sold 251 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $264.67, for a total value of $66,432.17. Following the transaction, the vice president now owns 23,169 shares of the company’s stock, valued at approximately $6,132,139.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Trinh Phung sold 251 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $264.67, for a total value of $66,432.17. Following the transaction, the vice president now owns 23,169 shares of the company’s stock, valued at approximately $6,132,139.23. The sale 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 firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $289.00, for a total transaction of $1,156,000.00. Following the completion of the transaction, the insider now directly owns 69,454 shares in the company, valued at approximately $20,072,206. The disclosure for this sale can be found here. Insiders have sold a total of 57,645 shares of company stock valued at $11,946,949 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SWAV shares. Wells Fargo & Company increased their price objective on shares of Shockwave Medical from $200.00 to $207.00 and gave the company an “equal weight” rating in a research note on Friday, February 17th. Piper Sandler dropped their price objective 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. Morgan Stanley dropped their price objective 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. Canaccord Genuity Group increased their price objective on shares of Shockwave Medical from $247.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 17th. Finally, Bank of America increased their price objective on shares of Shockwave Medical from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.44.

Shockwave Medical Stock Down 1.2 %

Shares of NASDAQ:SWAV opened at $277.90 on Friday. Shockwave Medical, Inc. has a 12 month low of $113.36 and a 12 month high of $320.54. The company’s 50-day moving average price is $229.71 and its two-hundred day moving average price is $226.60. The company has a quick ratio of 6.06, a current ratio of 7.25 and a debt-to-equity ratio of 0.05. The firm has a market cap of $10.14 billion, a P/E ratio of 48.75 and a beta of 0.99.

Shockwave Medical (NASDAQ:SWAV – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The company reported $3.71 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $143.04 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue was up 71.0% on a year-over-year basis. As a group, research analysts forecast that Shockwave Medical, Inc. will post 3.92 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Shockwave Medical (NASDAQ:SWAV)

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