Spire Wealth Management Decreases Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

Spire Wealth Management cut its stake in shares of Shockwave Medical, Inc. (NASDAQ:SWAVFree Report) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405 shares of the company’s stock after selling 150 shares during the period. Spire Wealth Management’s holdings in Shockwave Medical were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SWAV. Wellington Management Group LLP raised its position in Shockwave Medical by 36.8% during the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock valued at $470,763,000 after purchasing an additional 664,648 shares during the period. Norges Bank purchased a new stake in Shockwave Medical during the fourth quarter valued at approximately $68,759,000. Jackson Square Partners LLC purchased a new stake in Shockwave Medical during the fourth quarter valued at approximately $53,766,000. Armistice Capital LLC grew its stake in shares of Shockwave Medical by 168.0% during the fourth quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock valued at $81,189,000 after buying an additional 267,055 shares during the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Shockwave Medical by 21.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,398,136 shares of the company’s stock valued at $278,369,000 after buying an additional 250,352 shares during the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Shockwave Medical news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the sale, the insider now owns 56,818 shares in the company, valued at $16,344,834.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Trinh Phung sold 599 shares of the stock in a transaction 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 in the company, valued at approximately $8,044,476.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total value of $1,150,680.00. Following the sale, the insider now owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The disclosure for this sale can be found here. Insiders sold a total of 72,120 shares of company stock worth $18,753,421 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Shockwave Medical Trading Down 0.1 %

NASDAQ:SWAV traded down $0.28 during midday trading on Monday, hitting $329.85. The stock had a trading volume of 531,765 shares, compared to its average volume of 905,550. Shockwave Medical, Inc. has a one year low of $157.00 and a one year high of $331.58. The company has a market capitalization of $12.38 billion, a price-to-earnings ratio of 77.07, a PEG ratio of 2.41 and a beta of 0.88. The stock has a 50-day moving average of $317.49 and a 200 day moving average of $247.76. 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 (NASDAQ:SWAVGet Free Report) last posted its earnings results on Monday, May 6th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.45. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. Shockwave Medical’s revenue was up 35.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, sell-side analysts forecast that Shockwave Medical, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

SWAV has been the topic of a number of analyst reports. Piper Sandler upped their target price on Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. TheStreet raised Shockwave Medical from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, CL King reaffirmed a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $309.11.

Get Our Latest Research Report on Shockwave Medical

About Shockwave Medical

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SWAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shockwave Medical, Inc. (NASDAQ:SWAVFree Report).

Institutional Ownership by Quarter for Shockwave Medical (NASDAQ:SWAV)

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