VELA Investment Management LLC Purchases Shares of 3,427 Shockwave Medical, Inc. (NASDAQ:SWAV)

VELA Investment Management LLC acquired a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,427 shares of the company’s stock, valued at approximately $653,000.

Several other hedge funds also recently modified their holdings of the stock. Harbour Investments Inc. increased its position in shares of Shockwave Medical by 3.3% during the 1st quarter. Harbour Investments Inc. now owns 1,300 shares of the company’s stock worth $282,000 after purchasing an additional 41 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of Shockwave Medical by 1.4% in the 1st quarter. Snowden Capital Advisors LLC now owns 3,035 shares of the company’s stock valued at $658,000 after purchasing an additional 43 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Shockwave Medical by 11.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 483 shares of the company’s stock valued at $96,000 after purchasing an additional 50 shares during the period. Lindbrook Capital LLC lifted its stake in Shockwave Medical by 64.8% in the 3rd quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in Shockwave Medical by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock worth $3,263,000 after purchasing an additional 60 shares during the period. Institutional investors own 95.35% of the company’s stock.

Shockwave Medical Price Performance

Shockwave Medical stock traded down $0.60 during mid-day trading on Monday, reaching $327.10. 1,510,828 shares of the company were exchanged, compared to its average volume of 950,864. The firm has a market cap of $12.23 billion, a PE ratio of 84.68, a PEG ratio of 2.45 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.76 and a quick ratio of 10.73. The company has a fifty day simple moving average of $276.65 and a 200-day simple moving average of $224.61. Shockwave Medical, Inc. has a 12 month low of $157.00 and a 12 month high of $331.58.

Shockwave Medical (NASDAQ:SWAV) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. Shockwave Medical had a return on equity of 23.97% and a net margin of 20.17%. The company had revenue of $202.98 million for the quarter, compared to analysts’ expectations of $199.43 million. During the same quarter last year, the business earned $3.71 earnings per share. Shockwave Medical’s revenue was up 41.0% on a year-over-year basis. As a group, equities research analysts expect that Shockwave Medical, Inc. will post 4.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shockwave Medical news, VP Trinh Phung sold 1,287 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $232.18, for a total value of $298,815.66. Following the sale, the vice president now owns 32,933 shares of the company’s stock, valued at approximately $7,646,383.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Trinh Phung sold 1,287 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $232.18, for a total value of $298,815.66. Following the completion of the transaction, the vice president now owns 32,933 shares of the company’s stock, valued at $7,646,383.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Puckett sold 3,406 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $229.76, for a total transaction of $782,562.56. Following the sale, the chief financial officer now directly owns 27,732 shares in the company, valued at $6,371,704.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,813 shares of company stock worth $25,938,579. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

SWAV has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a research report on Friday, April 5th. TheStreet raised shares of Shockwave Medical from a “c+” rating to a “b” rating in a report on Thursday, February 15th. CL King reissued a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Finally, SVB Leerink restated a “market perform” rating and set a $335.00 price objective (down previously from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Ten 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, Shockwave Medical has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical 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.