Handelsinvest Investeringsforvaltning Sells 398 Shares of Shockwave Medical, Inc. (NASDAQ:SWAV)

Handelsinvest Investeringsforvaltning cut its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 34.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 766 shares of the company’s stock after selling 398 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Shockwave Medical were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SWAV. Riverview Trust Co bought a new stake in shares of Shockwave Medical during the 1st quarter valued at approximately $30,000. Rise Advisors LLC acquired a new stake in Shockwave Medical during the 1st quarter worth approximately $32,000. Asset Management One Co. Ltd. acquired a new stake in Shockwave Medical during the 4th quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in Shockwave Medical during the 4th quarter worth approximately $41,000. Finally, GAMMA Investing LLC boosted its position in Shockwave Medical by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 135 shares of the company’s stock worth $44,000 after buying an additional 65 shares during the period. 95.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on SWAV. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Piper Sandler lifted their target price on shares of Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Morgan Stanley reiterated an “equal weight” rating and set a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. SVB Leerink restated a “market perform” rating and issued a $335.00 price target (down previously from $361.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Price Performance

Shares of Shockwave Medical stock remained flat at $334.75 during trading on Wednesday. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97. Shockwave Medical, Inc. has a 1-year low of $157.00 and a 1-year high of $334.90. The firm’s 50 day simple moving average is $332.85 and its 200 day simple moving average is $282.15. The stock has a market capitalization of $12.57 billion, a PE ratio of 78.21, a PEG ratio of 2.43 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings results on Monday, May 6th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. The business had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. Shockwave Medical’s quarterly revenue was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 EPS. On average, analysts anticipate that Shockwave Medical, Inc. will post 5.05 EPS for the current year.

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.