Koshinski Asset Management Inc. lessened its holdings in shares of ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,365 shares of the company's stock after selling 115 shares during the period. Koshinski Asset Management Inc.'s holdings in ShockWave Medical were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Lincoln National Corp purchased a new position in shares of ShockWave Medical during the first quarter worth $211,000. Level Four Advisory Services LLC grew its position in ShockWave Medical by 21.2% during the first quarter. Level Four Advisory Services LLC now owns 4,426 shares of the company's stock valued at $918,000 after buying an additional 773 shares during the period. Wealth Dimensions Group Ltd. acquired a new stake in ShockWave Medical during the first quarter valued at $207,000. HM Payson & Co. acquired a new stake in ShockWave Medical during the fourth quarter valued at $77,000. Finally, Avestar Capital LLC acquired a new stake in ShockWave Medical during the first quarter valued at $413,000. Hedge funds and other institutional investors own 95.40% of the company's stock.
Get ShockWave Medical alerts:Analyst Upgrades and Downgrades
SWAV has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of ShockWave Medical from $201.00 to $255.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 9th. Oppenheimer lowered shares of ShockWave Medical from a "market perform" rating to an "underperform" rating and set a $165.00 price target on the stock. in a research report on Tuesday, September 6th. Wells Fargo & Company raised their price target on shares of ShockWave Medical from $176.00 to $255.00 and gave the company an "overweight" rating in a research report on Tuesday, August 9th. Piper Sandler lifted their target price on shares of ShockWave Medical from $278.00 to $338.00 and gave the company an "overweight" rating in a research report on Monday, August 29th. Finally, Canaccord Genuity Group lifted their target price on shares of ShockWave Medical from $232.00 to $256.00 and gave the company a "buy" rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $246.50.
Insiders Place Their Bets
In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $198.00, for a total transaction of $792,000.00. Following the transaction, the insider now directly owns 78,563 shares of the company's stock, valued at $15,555,474. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ShockWave Medical news, insider Isaac Zacharias sold 4,000 shares of ShockWave Medical stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $198.00, for a total transaction of $792,000.00. Following the transaction, the insider now directly owns 78,563 shares of the company's stock, valued at $15,555,474. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Trinh Phung sold 3,500 shares of ShockWave Medical stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $310.76, for a total transaction of $1,087,660.00. Following the transaction, the vice president now directly owns 25,063 shares in the company, valued at $7,788,577.88. The disclosure for this sale can be found here. Insiders have sold 108,700 shares of company stock valued at $30,247,696 over the last ninety days. Company insiders own 3.90% of the company's stock.ShockWave Medical Stock Performance
SWAV opened at $252.08 on Friday. The firm has a market capitalization of $9.02 billion, a PE ratio of 172.66 and a beta of 1.06. ShockWave Medical, Inc. has a twelve month low of $113.36 and a twelve month high of $314.90. The firm's 50-day moving average price is $264.51 and its 200 day moving average price is $208.82. The company has a current ratio of 5.32, a quick ratio of 4.41 and a debt-to-equity ratio of 0.02.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.25. The firm had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.51 million. ShockWave Medical had a net margin of 15.11% and a return on equity of 21.25%. ShockWave Medical's quarterly revenue was up 115.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, sell-side analysts expect that ShockWave Medical, Inc. will post 2.57 EPS for the current fiscal year.
About ShockWave Medical
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ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.
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