Short Interest in Shockwave Medical, Inc. (NASDAQ:SWAV) Decreases By 27.6%

Shockwave Medical, Inc. (NASDAQ:SWAV) was the target of a large decrease in short interest during 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 trading volume of 1,040,000 shares, the short-interest ratio is currently 1.4 days.

Shockwave Medical Stock Performance

Shares of SWAV stock traded up $1.01 during mid-day trading on Friday, reaching $330.00. The stock had a trading volume of 575,689 shares, compared to its average volume of 2,009,896. The firm’s 50 day simple moving average is $294.88 and its 200 day simple moving average is $233.41. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. Shockwave Medical has a one year low of $157.00 and a one year high of $331.58. The firm has a market cap of $12.34 billion, a PE ratio of 85.27, a P/E/G ratio of 2.45 and a beta of 0.92.

Shockwave Medical (NASDAQ:SWAV) last posted its earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping the consensus estimate 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%. Shockwave Medical’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the company earned $3.71 EPS. On average, analysts forecast that Shockwave Medical will post 4.94 EPS for the current year.

Insider Activity

In other news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the transaction, the chief executive officer now owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas Evan Godshall sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the transaction, the chief executive officer now owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the transaction, the insider now directly owns 56,818 shares in the company, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,813 shares of company stock valued at $22,863,919. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Shockwave Medical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new position in shares of Shockwave Medical during the 1st quarter worth approximately $28,000. Clear Creek Financial Management LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth approximately $324,000. MONECO Advisors LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth approximately $337,000. WCM Investment Management LLC lifted its position in shares of Shockwave Medical by 1.4% during the 1st quarter. WCM Investment Management LLC now owns 157,800 shares of the company’s stock worth $51,384,000 after buying an additional 2,131 shares during the period. Finally, HMS Capital Management LLC bought a new position in shares of Shockwave Medical during the 1st quarter worth approximately $384,000. Institutional investors own 95.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SWAV shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. SVB Leerink reaffirmed a “market perform” rating and issued a $335.00 target price (down previously from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Piper Sandler raised their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Wells Fargo & Company raised their target price on Shockwave Medical from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $309.11.

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.