Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning cut its holdings in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 34.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766 shares of the company’s stock after selling 398 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Shockwave Medical were worth $249,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. State of Michigan Retirement System grew its stake in shares of Shockwave Medical by 2.2% during the first quarter. State of Michigan Retirement System now owns 9,100 shares of the company’s stock valued at $2,963,000 after acquiring an additional 200 shares in the last quarter. Gibson Capital LLC acquired a new position in Shockwave Medical in the first quarter worth about $297,000. OneAscent Wealth Management LLC acquired a new position in Shockwave Medical in the first quarter worth about $217,000. Artemis Investment Management LLP acquired a new position in Shockwave Medical in the first quarter worth about $28,130,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Shockwave Medical by 84.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,637 shares of the company’s stock worth $859,000 after purchasing an additional 1,205 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Shockwave Medical Stock Performance

NASDAQ SWAV remained flat at $334.75 on Wednesday. The firm’s fifty day moving average price is $332.85 and its 200-day moving average price is $282.15. The firm has a market cap of $12.57 billion, a PE ratio of 78.21, a PEG ratio of 2.43 and a beta of 0.88. Shockwave Medical, Inc. has a 12 month low of $157.00 and a 12 month high of $334.90. The company has a current ratio of 13.81, a quick ratio of 12.61 and a debt-to-equity ratio of 0.97.

Shockwave Medical (NASDAQ:SWAV) last issued its earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The company’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. On average, equities research analysts anticipate that Shockwave Medical, Inc. will post 5.05 earnings per share for the current year.

Analysts Set New Price Targets

SWAV has been the subject of a number of research reports. SVB Leerink reiterated a “market perform” rating and issued a $335.00 price target (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler raised their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Shockwave Medical presently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Company Profile

Shockwave Medical, Inc, a medical device company, develops and commercializes 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 used in 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 used for IVL System in large diameter vessels.