National Bank of Canada FI lowered its position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV – Free Report) by 29.0% in the second quarter, HoldingsChannel reports. The fund owned 132 shares of the company’s stock after selling 54 shares during the period. National Bank of Canada FI’s holdings in Shockwave Medical were worth $38,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Shockwave Medical by 98,146.8% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,714,713 shares of the company’s stock worth $1,060,216,000 after acquiring an additional 3,710,932 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Shockwave Medical by 2.1% during the first quarter. Vanguard Group Inc. now owns 3,311,557 shares of the company’s stock worth $686,685,000 after acquiring an additional 67,789 shares during the last quarter. Invesco Ltd. raised its position in shares of Shockwave Medical by 16.0% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Shockwave Medical by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,394,767 shares of the company’s stock worth $302,428,000 after acquiring an additional 382,374 shares during the last quarter. Finally, 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. Institutional investors own 87.35% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. SVB Leerink began coverage on Shockwave Medical in a research report on Monday, October 16th. They set an “outperform” rating and a $263.00 target price for the company. Morgan Stanley decreased their price objective on Shockwave Medical from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Thursday, August 10th. Needham & Company LLC lifted their price objective on Shockwave Medical from $325.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Leerink Partnrs reissued an “outperform” rating on shares of Shockwave Medical in a research note on Monday, October 16th. Finally, TheStreet cut Shockwave Medical from a “b-” rating to a “c+” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $280.78.
Insider Buying and Selling
In related news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $214.62, for a total transaction of $2,146,200.00. Following the sale, the chief executive officer now owns 141,649 shares of the company’s stock, valued at $30,400,708.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Shockwave Medical news, Director Frank T. Watkins sold 3,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $202.70, for a total value of $608,100.00. Following the sale, the director now owns 1,532 shares of the company’s stock, valued at approximately $310,536.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $214.62, for a total value of $2,146,200.00. Following the completion of the sale, the chief executive officer now directly owns 141,649 shares in the company, valued at approximately $30,400,708.38. The disclosure for this sale can be found here. Insiders have sold 51,100 shares of company stock valued at $10,859,264 over the last 90 days. 3.40% of the stock is owned by corporate insiders.
Shockwave Medical Price Performance
Shockwave Medical stock opened at $202.17 on Tuesday. Shockwave Medical, Inc. has a 12 month low of $172.50 and a 12 month high of $320.54. The stock’s 50 day moving average is $210.03 and its 200-day moving average is $251.50. The company has a current ratio of 5.69, a quick ratio of 4.54 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 11.84 and a beta of 1.01.
Shockwave Medical (NASDAQ:SWAV – Get Free Report) last posted its earnings results on Monday, August 7th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.09). Shockwave Medical had a net margin of 39.56% and a return on equity of 47.48%. The firm had revenue of $180.17 million during the quarter, compared to analyst estimates of $173.79 million. During the same period in the previous year, the company posted $0.68 EPS. Shockwave Medical’s revenue for the quarter was up 49.2% compared to the same quarter last year. Equities research analysts expect that Shockwave Medical, Inc. will post 3.65 EPS 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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