Raymond James Financial Services Advisors Inc. grew its position in shares of ShockWave Medical, Inc. (NASDAQ:SWAV – Get Rating) by 39.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,650 shares of the company's stock after purchasing an additional 469 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in ShockWave Medical were worth $459,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in SWAV. Price T Rowe Associates Inc. MD lifted its stake in ShockWave Medical by 24.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,214,678 shares of the company's stock worth $614,550,000 after purchasing an additional 627,712 shares in the last quarter. State Street Corp lifted its stake in ShockWave Medical by 56.5% during the second quarter. State Street Corp now owns 1,125,735 shares of the company's stock worth $215,207,000 after purchasing an additional 406,327 shares in the last quarter. Principal Financial Group Inc. lifted its stake in ShockWave Medical by 2,286.1% during the second quarter. Principal Financial Group Inc. now owns 243,188 shares of the company's stock worth $46,490,000 after purchasing an additional 232,996 shares in the last quarter. Macquarie Group Ltd. lifted its stake in ShockWave Medical by 26.3% during the second quarter. Macquarie Group Ltd. now owns 1,117,137 shares of the company's stock worth $213,563,000 after purchasing an additional 232,570 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of ShockWave Medical by 16.0% during the first quarter. Invesco Ltd. now owns 1,398,211 shares of the company's stock worth $289,933,000 after acquiring an additional 192,525 shares during the period. 90.56% of the stock is currently owned by institutional investors and hedge funds.
Get ShockWave Medical alerts:Insiders Place Their Bets
In other ShockWave Medical news, CEO Douglas Evan Godshall sold 30,000 shares of the firm's stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $240.81, for a total transaction of $7,224,300.00. Following the transaction, the chief executive officer now owns 82,926 shares of the company's stock, valued at $19,969,410.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Douglas Evan Godshall sold 30,000 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $240.81, for a total transaction of $7,224,300.00. Following the completion of the sale, the chief executive officer now owns 82,926 shares in the company, valued at $19,969,410.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Puckett sold 1,100 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $246.96, for a total transaction of $271,656.00. Following the sale, the chief financial officer now owns 39,938 shares of the company's stock, valued at approximately $9,863,088.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,300 shares of company stock valued at $13,110,504. 3.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
SWAV has been the topic of a number of recent research reports. Bank of America upped their price objective on ShockWave Medical from $260.00 to $310.00 in a research report on Monday, November 7th. Wells Fargo & Company lowered ShockWave Medical from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $300.00 to $235.00 in a research report on Monday, December 12th. Morgan Stanley cut their price objective on ShockWave Medical from $290.00 to $224.00 and set an "equal weight" rating on the stock in a research report on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on ShockWave Medical in a research report on Friday, December 16th. They set a "buy" rating and a $285.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, ShockWave Medical has an average rating of "Moderate Buy" and an average price target of $250.89.ShockWave Medical Stock Performance
Shares of SWAV stock opened at $190.55 on Thursday. The stock's 50-day moving average is $218.21 and its two-hundred day moving average is $248.07. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 81.78 and a beta of 1.04. ShockWave Medical, Inc. has a 1 year low of $113.36 and a 1 year high of $320.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 6.02 and a current ratio of 7.29.
ShockWave Medical (NASDAQ:SWAV – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.24. The company had revenue of $131.33 million for the quarter, compared to analyst estimates of $125.85 million. ShockWave Medical had a return on equity of 30.08% and a net margin of 20.48%. Analysts predict that ShockWave Medical, Inc. will post 2.94 earnings per share for the current 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.
Further Reading
- Get a free copy of the StockNews.com research report on ShockWave Medical (SWAV)
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