Shockwave Medical, Inc. (NASDAQ:SWAV) Short Interest Update

Shockwave Medical, Inc. (NASDAQ:SWAV) saw a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 1,470,000 shares, a decrease of 27.6% from the March 31st total of 2,030,000 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 1.4 days.

Insider Activity

In related news, Director Laura Francis sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the sale, the director now directly owns 3,551 shares in the company, valued at approximately $1,065,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frederic H. Moll sold 60,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the sale, the director now owns 287,521 shares of the company’s stock, valued at $74,005,030.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Francis sold 1,500 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $300.00, for a total value of $450,000.00. Following the sale, the director now owns 3,551 shares of the company’s stock, valued at $1,065,300. The disclosure for this sale can be found here. Insiders have sold a total of 89,813 shares of company stock valued at $22,863,919 in the last 90 days. 3.40% of the stock is owned by company insiders.

Institutional Trading of Shockwave Medical

Several large investors have recently made changes to their positions in SWAV. Wellington Management Group LLP boosted its holdings in Shockwave Medical by 36.8% in the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after acquiring an additional 664,648 shares in the last quarter. Norges Bank bought a new position in shares of Shockwave Medical in the 4th quarter worth $68,759,000. Jackson Square Partners LLC bought a new position in shares of Shockwave Medical in the 4th quarter worth $53,766,000. Armistice Capital LLC increased its stake in Shockwave Medical by 168.0% during the 4th quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock valued at $81,189,000 after purchasing an additional 267,055 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Shockwave Medical by 21.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock valued at $278,369,000 after purchasing an additional 250,352 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SWAV. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research report on Friday, April 5th. Wells Fargo & Company raised their price objective on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th. TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shockwave Medical presently has a consensus rating of “Hold” and an average target price of $309.11.

Shockwave Medical Trading Down 0.1 %

Shares of SWAV stock traded down $0.49 during mid-day trading on Monday, hitting $329.51. The company’s stock had a trading volume of 436,668 shares, compared to its average volume of 948,381. The company has a market cap of $12.32 billion, a PE ratio of 85.14, a P/E/G ratio of 2.45 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. The company’s fifty day simple moving average is $294.88 and its 200-day simple moving average is $233.64. Shockwave Medical has a 52 week low of $157.00 and a 52 week high of $331.58.

Shockwave Medical (NASDAQ:SWAV) last issued its earnings results on Thursday, February 15th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. The business had revenue of $202.98 million during the quarter, compared to the consensus estimate of $199.43 million. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The firm’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.71 earnings per share. As a group, equities research analysts expect that Shockwave Medical will post 4.94 earnings per share for the current fiscal year.

About Shockwave Medical

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.