Evoke Wealth LLC Takes Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

Evoke Wealth LLC purchased a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,572 shares of the company’s stock, valued at approximately $1,633,000.

Other large investors have also bought and sold shares of the company. Asset Management One Co. Ltd. bought a new position in shares of Shockwave Medical in the fourth quarter worth approximately $34,000. Quest Partners LLC bought a new stake in Shockwave Medical in the 4th quarter worth $41,000. Operose Advisors LLC purchased a new position in shares of Shockwave Medical in the third quarter valued at about $49,000. 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 valued at $85,000 after acquiring an additional 354 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Shockwave Medical by 79.1% during the third quarter. Signaturefd LLC now owns 471 shares of the company’s stock worth $94,000 after purchasing an additional 208 shares during the period. 95.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Isaac Zacharias sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the transaction, the insider now directly owns 56,818 shares in the company, valued at $16,344,834.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 56,818 shares in the company, valued at $16,344,834.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank T. Watkins sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $253.65, for a total transaction of $507,300.00. Following the sale, the director now directly owns 4,532 shares of the company’s stock, valued at approximately $1,149,541.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,521 shares of company stock valued at $2,113,296. 3.40% of the stock is currently owned by corporate insiders.

Shockwave Medical Price Performance

Shares of Shockwave Medical stock opened at $334.75 on Friday. Shockwave Medical, Inc. has a 1 year low of $157.00 and a 1 year high of $334.90. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 78.21, a PEG ratio of 2.43 and a beta of 0.88. The company has a 50-day moving average of $327.94 and a 200 day moving average of $256.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 13.81 and a quick ratio of 12.61.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings data on Monday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The business had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $207.69 million. During the same quarter in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up 35.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shockwave Medical, Inc. will post 5.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Leerink Partnrs downgraded 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 target price on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Finally, SVB Leerink reaffirmed a “market perform” rating and set a $335.00 target price (down previously from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Shockwave Medical presently has a consensus rating of “Hold” and an average price target 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.