Motley Fool Wealth Management LLC Acquires Shares of 27,083 Shockwave Medical, Inc. (NASDAQ:SWAV)

Motley Fool Wealth Management LLC acquired a new stake in Shockwave Medical, Inc. (NASDAQ:SWAV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 27,083 shares of the company’s stock, valued at approximately $5,164,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SWAV. Covestor Ltd raised its stake in shares of Shockwave Medical by 484.9% during the third quarter. Covestor Ltd now owns 427 shares of the company’s stock worth $85,000 after purchasing an additional 354 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Shockwave Medical by 18,122.1% during the fourth quarter. International Assets Investment Management LLC now owns 141,586 shares of the company’s stock worth $26,981,000 after purchasing an additional 140,809 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Shockwave Medical by 109.0% during the third quarter. American Century Companies Inc. now owns 170,866 shares of the company’s stock worth $34,019,000 after purchasing an additional 89,094 shares during the last quarter. AMI Asset Management Corp purchased a new stake in shares of Shockwave Medical during the fourth quarter worth approximately $4,092,000. Finally, HealthInvest Partners AB purchased a new stake in shares of Shockwave Medical during the fourth quarter worth approximately $673,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. SVB Leerink restated a “market perform” rating and set a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 price objective (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Leerink Partnrs lowered Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $309.11.

Shockwave Medical Price Performance

Shares of NASDAQ:SWAV traded up $1.01 on Friday, hitting $330.00. The company had a trading volume of 575,689 shares, compared to its average volume of 2,009,896. The company has a current ratio of 11.76, a quick ratio of 10.73 and a debt-to-equity ratio of 1.09. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week high of $331.58. The business has a 50 day moving average of $294.88 and a 200 day moving average of $233.25. The company has a market cap of $12.34 billion, a PE ratio of 85.27, a PEG ratio of 2.44 and a beta of 0.92.

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

Insider Activity

In related news, VP Trinh Phung sold 599 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the transaction, the vice president now directly owns 31,031 shares in the company, valued at $8,044,476.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Trinh Phung sold 599 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the transaction, the vice president now directly owns 31,031 shares in the company, valued at $8,044,476.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Puckett sold 3,406 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $229.76, for a total value of $782,562.56. Following the transaction, the chief financial officer now owns 27,732 shares in the company, valued at $6,371,704.32. The disclosure for this sale can be found here. Insiders have sold 89,813 shares of company stock worth $22,863,919 over the last three months. 3.40% of the stock is currently owned by corporate insiders.

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.