California Public Employees Retirement System raised its position in shares of ShockWave Medical, Inc. (NASDAQ:SWAV) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,964 shares of the company’s stock after purchasing an additional 7,413 shares during the quarter. California Public Employees Retirement System owned 0.20% of ShockWave Medical worth $6,946,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SWAV. Nisa Investment Advisors LLC purchased a new stake in shares of ShockWave Medical in the 3rd quarter valued at $64,000. State of New Jersey Common Pension Fund D purchased a new stake in ShockWave Medical in the third quarter valued at $2,821,000. Amalgamated Bank grew its position in ShockWave Medical by 3.8% during the 3rd quarter. Amalgamated Bank now owns 4,423 shares of the company’s stock worth $335,000 after purchasing an additional 160 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of ShockWave Medical in the 3rd quarter valued at about $266,000. Finally, Financial Advocates Investment Management boosted its stake in shares of ShockWave Medical by 2.1% in the third quarter. Financial Advocates Investment Management now owns 8,370 shares of the company’s stock worth $634,000 after buying an additional 175 shares during the last quarter. 88.84% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Frank T. Watkins sold 2,000 shares of ShockWave Medical stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $141.24, for a total value of $282,480.00. Following the completion of the transaction, the director now owns 98,773 shares in the company, valued at $13,950,698.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas Evan Godshall sold 45,000 shares of ShockWave Medical stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $121.96, for a total transaction of $5,488,200.00. Following the sale, the chief executive officer now directly owns 193,359 shares of the company’s stock, valued at $23,582,063.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,000 shares of company stock worth $8,884,720. 15.30% of the stock is currently owned by company insiders.
SWAV opened at $130.36 on Tuesday. The company has a market cap of $4.47 billion, a price-to-earnings ratio of -64.53 and a beta of 1.26. The firm’s fifty day simple moving average is $126.16 and its two-hundred day simple moving average is $90.17. The company has a quick ratio of 10.84, a current ratio of 12.21 and a debt-to-equity ratio of 0.06. ShockWave Medical, Inc. has a 52-week low of $22.01 and a 52-week high of $143.79.
ShockWave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Wednesday, February 17th. The company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.05). ShockWave Medical had a negative net margin of 108.73% and a negative return on equity of 30.28%. On average, research analysts forecast that ShockWave Medical, Inc. will post -1.94 EPS for the current year.
SWAV has been the topic of several recent research reports. Canaccord Genuity upped their price objective on ShockWave Medical from $87.00 to $131.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Piper Sandler increased their price target on shares of ShockWave Medical from $132.00 to $134.00 and gave the stock a “neutral” rating in a report on Thursday, February 18th. They noted that the move was a valuation call. Wells Fargo & Company raised their price target on shares of ShockWave Medical from $95.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, January 12th. Zacks Investment Research downgraded shares of ShockWave Medical from a “buy” rating to a “hold” rating in a research report on Thursday, February 18th. Finally, Bank of America cut ShockWave Medical from a “buy” rating to a “neutral” rating and set a $105.00 target price on the stock. in a research report on Tuesday, December 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $109.00.
ShockWave Medical Company Profile
ShockWave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy technology to treat calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases. 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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