ShockWave Medical (NASDAQ:SWAV) Releases FY 2021 Earnings Guidance

ShockWave Medical (NASDAQ:SWAV) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $195 million-205 million, compared to the consensus revenue estimate of $158.99 million.

Shares of ShockWave Medical stock traded up $0.50 on Friday, hitting $173.96. 2,932 shares of the company traded hands, compared to its average volume of 432,243. The company has a 50 day moving average of $156.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.96 and a current ratio of 6.96. ShockWave Medical has a 52 week low of $41.77 and a 52 week high of $182.28. The stock has a market cap of $6.09 billion, a P/E ratio of -83.39 and a beta of 1.29.

ShockWave Medical (NASDAQ:SWAV) last posted its quarterly earnings results on Monday, May 10th. The company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.26). ShockWave Medical had a negative net margin of 83.47% and a negative return on equity of 30.92%. The company had revenue of $31.90 million for the quarter, compared to the consensus estimate of $31.33 million. During the same period in the prior year, the firm posted ($0.59) EPS. The business’s revenue was up 109.9% on a year-over-year basis. On average, analysts forecast that ShockWave Medical will post -1.59 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of ShockWave Medical from a sell rating to a hold rating and set a $172.00 price objective on the stock in a report on Wednesday, April 21st. Oppenheimer reissued a hold rating on shares of ShockWave Medical in a report on Wednesday, April 28th. Wells Fargo & Company lifted their price objective on shares of ShockWave Medical from $161.00 to $189.00 and gave the company an overweight rating in a report on Monday. Morgan Stanley lifted their price objective on shares of ShockWave Medical from $145.00 to $152.00 and gave the company an equal weight rating in a report on Tuesday, May 11th. Finally, Bank of America raised shares of ShockWave Medical from a neutral rating to a buy rating and set a $180.00 price objective on the stock in a report on Tuesday, May 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. ShockWave Medical presently has a consensus rating of Buy and an average price target of $176.67.

In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction on Monday, March 15th. The shares were sold at an average price of $114.70, for a total value of $458,800.00. Following the transaction, the insider now directly owns 55,050 shares of the company’s stock, valued at $6,314,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Puckett sold 2,500 shares of ShockWave Medical stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $178.66, for a total transaction of $446,650.00. Following the completion of the transaction, the chief financial officer now directly owns 46,129 shares in the company, valued at $8,241,407.14. The disclosure for this sale can be found here. Insiders sold 163,491 shares of company stock worth $26,613,364 over the last ninety days. Corporate insiders own 15.30% of the company’s stock.

ShockWave Medical Company Profile

ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease; C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee peripheral artery disease.

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Earnings History and Estimates for ShockWave Medical (NASDAQ:SWAV)

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