Pacer Advisors Inc. raised its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV – Free Report) by 455.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,721 shares of the company’s stock after acquiring an additional 6,331 shares during the quarter. Pacer Advisors Inc.’s holdings in Shockwave Medical were worth $2,204,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of SWAV. Norges Bank bought a new position in Shockwave Medical during the 4th quarter worth $104,982,000. JPMorgan Chase & Co. raised its position in shares of Shockwave Medical by 57.9% during the first quarter. JPMorgan Chase & Co. now owns 1,273,747 shares of the company’s stock worth $276,185,000 after acquiring an additional 467,237 shares during the last quarter. State Street Corp lifted its stake in shares of Shockwave Medical by 56.5% in the second quarter. State Street Corp now owns 1,125,735 shares of the company’s stock worth $215,207,000 after acquiring an additional 406,327 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Shockwave Medical by 58.3% in the first quarter. Artisan Partners Limited Partnership now owns 1,057,470 shares of the company’s stock valued at $229,291,000 after acquiring an additional 389,636 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Shockwave Medical by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,394,767 shares of the company’s stock valued at $302,428,000 after purchasing an additional 382,374 shares during the period. Institutional investors own 87.35% of the company’s stock.
Shockwave Medical Stock Performance
Shares of SWAV opened at $194.49 on Monday. Shockwave Medical, Inc. has a one year low of $172.50 and a one year high of $320.54. The company has a market cap of $7.15 billion, a PE ratio of 30.29, a P/E/G ratio of 42.44 and a beta of 0.98. The stock has a 50-day moving average of $232.94 and a 200-day moving average of $252.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.69 and a quick ratio of 4.54.
Wall Street Analysts Forecast Growth
SWAV has been the topic of a number of analyst reports. Needham & Company LLC upped their price objective on shares of Shockwave Medical from $325.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley decreased their price target on Shockwave Medical from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Thursday, August 10th. Wells Fargo & Company dropped their price objective on Shockwave Medical from $275.00 to $251.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 8th. Finally, TheStreet cut Shockwave Medical from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $292.29.
Read Our Latest Analysis on SWAV
Insider Activity at Shockwave Medical
In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $268.06, for a total transaction of $1,072,240.00. Following the transaction, the insider now owns 56,678 shares in the company, valued at $15,193,104.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frank T. Watkins sold 3,000 shares of Shockwave Medical stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $267.17, for a total transaction of $801,510.00. Following the transaction, the director now owns 1,532 shares of the company’s stock, valued at $409,304.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $268.06, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 37,100 shares of company stock valued at $8,276,394. 3.40% of the stock is owned by company insiders.
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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