New York State Common Retirement Fund Grows Stake in Shockwave Medical, Inc. (NASDAQ:SWAV)

New York State Common Retirement Fund raised its stake in Shockwave Medical, Inc. (NASDAQ:SWAV) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,395 shares of the company’s stock after acquiring an additional 1,945 shares during the quarter. New York State Common Retirement Fund’s holdings in Shockwave Medical were worth $39,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its stake in Shockwave Medical by 64.8% in the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Shockwave Medical by 297.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock valued at $31,000 after buying an additional 116 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Shockwave Medical during the 4th quarter valued at approximately $34,000. Operose Advisors LLC purchased a new stake in shares of Shockwave Medical during the 3rd quarter valued at approximately $49,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Shockwave Medical during the 3rd quarter valued at approximately $82,000. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Shockwave Medical Price Performance

Shares of NASDAQ:SWAV opened at $328.87 on Thursday. The stock has a market cap of $12.30 billion, a PE ratio of 84.98, a PEG ratio of 2.44 and a beta of 0.92. The company’s fifty day moving average is $291.68 and its 200 day moving average is $231.69. Shockwave Medical, Inc. has a 52 week low of $157.00 and a 52 week high of $331.58. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.24. The business had revenue of $202.98 million for the quarter, compared to analyst estimates of $199.43 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The company’s revenue was up 41.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.71 EPS. Research analysts anticipate that Shockwave Medical, Inc. will post 4.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SWAV. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $335.00 price target (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $335.00 target price (up previously from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. 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 report on Monday, April 8th. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company increased their price target on shares of Shockwave Medical from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Shockwave Medical currently has an average rating of “Hold” and a consensus price target of $309.11.

Insider Activity

In other news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the sale, the insider now owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Isaac Zacharias sold 4,000 shares of Shockwave Medical stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $224.69, for a total transaction of $898,760.00. Following the completion of the transaction, the insider now directly owns 63,920 shares of the company’s stock, valued at approximately $14,362,184.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederic H. Moll sold 60,000 shares of Shockwave Medical stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $257.39, for a total transaction of $15,443,400.00. Following the transaction, the director now directly owns 287,521 shares of the company’s stock, valued at $74,005,030.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,813 shares of company stock valued at $23,762,679. Corporate insiders own 3.40% of the company’s stock.

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.