Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by Quadrant Capital Group LLC

Posted by Defense World Staff on Jun 6th, 2023

Quadrant Capital Group LLC cut its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 30.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 382 shares of the company’s stock after selling 166 shares during the quarter. Quadrant Capital Group LLC’s holdings in Shockwave Medical were worth $79,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Shockwave Medical by 2.0% during the 3rd quarter. BlackRock Inc. now owns 4,400,318 shares of the company’s stock valued at $1,223,596,000 after purchasing an additional 86,765 shares during the period. Vanguard Group Inc. boosted its stake in shares of Shockwave Medical by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,531,285 shares of the company’s stock worth $981,946,000 after acquiring an additional 13,619 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Shockwave Medical by 16.0% during the 1st quarter. Invesco Ltd. now owns 1,398,211 shares of the company’s stock worth $289,933,000 after acquiring an additional 192,525 shares in the last quarter. State Street Corp boosted its stake in shares of Shockwave Medical by 2.8% during the 3rd quarter. State Street Corp now owns 1,157,310 shares of the company’s stock worth $321,813,000 after acquiring an additional 31,575 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Shockwave Medical by 26.3% during the 2nd quarter. Macquarie Group Ltd. now owns 1,117,137 shares of the company’s stock worth $213,563,000 after acquiring an additional 232,570 shares in the last quarter. 90.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Shockwave Medical

In related news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction on Monday, March 27th. The stock was sold at an average price of $215.69, for a total transaction of $862,760.00. Following the completion of the sale, the insider now owns 74,078 shares of the company’s stock, valued at $15,977,883.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $215.69, for a total transaction of $862,760.00. Following the transaction, the insider now directly owns 74,078 shares in the company, valued at $15,977,883.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank T. Watkins sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $278.32, for a total value of $834,960.00. Following the transaction, the director now owns 3,796 shares in the company, valued at $1,056,502.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,466 shares of company stock valued at $7,119,109. Insiders own 3.40% of the company’s stock.

Shockwave Medical Stock Performance

Shares of Shockwave Medical stock opened at $290.71 on Tuesday. The stock has a market cap of $10.64 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 26.68 and a beta of 1.00. Shockwave Medical, Inc. has a 12 month low of $154.45 and a 12 month high of $320.54. The company has a quick ratio of 3.57, a current ratio of 4.16 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $266.81 and a 200-day simple moving average of $227.69.

Shockwave Medical (NASDAQ:SWAV – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.22. The firm had revenue of $161.10 million during the quarter, compared to analysts’ expectations of $147.30 million. Shockwave Medical had a return on equity of 55.22% and a net margin of 43.18%. The business’s revenue for the quarter was up 72.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. On average, sell-side analysts anticipate that Shockwave Medical, Inc. will post 3.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on SWAV. Needham & Company LLC raised their price objective on Shockwave Medical from $283.00 to $325.00 in a research note on Tuesday, May 9th. Morgan Stanley began coverage on Shockwave Medical in a research note on Tuesday, May 30th. They set an “equal weight” rating and a $291.00 price objective for the company. Bank of America raised their price objective on Shockwave Medical from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Piper Sandler raised their target price on Shockwave Medical from $280.00 to $315.00 in a research report on Tuesday, May 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Shockwave Medical from $285.00 to $310.00 in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.78.

About Shockwave Medical

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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.