Tower Research Capital LLC TRC lifted its stake in Shockwave Medical, Inc. (NASDAQ:SWAV – Free Report) by 16.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,656 shares of the company’s stock after buying an additional 239 shares during the period. Tower Research Capital LLC TRC’s holdings in Shockwave Medical were worth $359,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Shockwave Medical during the 1st quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in Shockwave Medical during the 1st quarter worth approximately $34,000. Ameritas Advisory Services LLC bought a new stake in Shockwave Medical during the 1st quarter worth approximately $35,000. PenderFund Capital Management Ltd. bought a new stake in Shockwave Medical during the 1st quarter worth approximately $41,000. Finally, Banque Cantonale Vaudoise bought a new stake in Shockwave Medical during the 1st quarter worth approximately $57,000. 90.72% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Frank T. Watkins sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $287.52, for a total transaction of $862,560.00. Following the sale, the director now owns 1,532 shares of the company’s stock, valued at approximately $440,480.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $268.06, for a total transaction of $1,072,240.00. Following the sale, the insider now owns 56,678 shares of the company’s stock, valued at approximately $15,193,104.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank T. Watkins sold 3,000 shares of Shockwave Medical stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $287.52, for a total value of $862,560.00. Following the completion of the sale, the director now directly owns 1,532 shares in the company, valued at approximately $440,480.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,162 shares of company stock valued at $5,712,370. 3.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
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Shockwave Medical Stock Up 0.7 %
NASDAQ:SWAV opened at $222.37 on Thursday. Shockwave Medical, Inc. has a 12-month low of $172.50 and a 12-month high of $320.54. The company has a quick ratio of 4.54, a current ratio of 5.69 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $8.17 billion, a P/E ratio of 34.64, a P/E/G ratio of 47.66 and a beta of 0.95. The stock’s fifty day simple moving average is $263.01 and its 200-day simple moving average is $248.46.
Shockwave Medical (NASDAQ:SWAV – Get Free Report) last posted its quarterly earnings results on Monday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.09). Shockwave Medical had a return on equity of 47.48% and a net margin of 39.56%. The company had revenue of $180.17 million during the quarter, compared to the consensus estimate of $173.79 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. Equities research analysts expect that Shockwave Medical, Inc. will post 3.63 earnings per share for the current year.
About Shockwave Medical
ShockWave Medical, Inc, a medical device company, develops 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 for use in our 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 for use in IVL System in large diameter vessels.
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