Shockwave Medical (NASDAQ:SWAV) Posts Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Shockwave Medical (NASDAQ:SWAV) released its earnings results on Monday. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45, Briefing.com reports. The firm had revenue of $218.80 million during the quarter, compared to the consensus estimate of $207.69 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS.

Shockwave Medical Trading Up 0.1 %

NASDAQ:SWAV traded up $0.42 during trading hours on Tuesday, reaching $330.42. The company’s stock had a trading volume of 64,336 shares, compared to its average volume of 927,194. The firm has a 50-day simple moving average of $303.04 and a 200-day simple moving average of $239.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.73 and a current ratio of 11.76. Shockwave Medical has a 1 year low of $157.00 and a 1 year high of $331.58. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 85.50, a PEG ratio of 2.46 and a beta of 0.88.

Insider Transactions at Shockwave Medical

In other news, VP Trinh Phung sold 599 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total transaction of $155,284.76. Following the completion of the sale, the vice president now owns 31,031 shares of the company’s stock, valued at $8,044,476.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Douglas Evan Godshall sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $231.56, for a total value of $2,315,600.00. Following the transaction, the chief executive officer now owns 162,762 shares in the company, valued at $37,689,168.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Trinh Phung sold 599 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the transaction, the vice president now directly owns 31,031 shares of the company’s stock, valued at approximately $8,044,476.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,120 shares of company stock worth $21,319,021. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SWAV shares. SVB Leerink reissued a “market perform” rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a report on Friday, April 5th. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Company Profile

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.