As of June 9, 2023, The Manufacturers Life Insurance Company has decreased its holdings by 12.4% in Shockwave Medical, Inc. (NASDAQ:SWAV). According to the company’s most recent Form 13F filing with the Securities & Exchange Commission, the institutional investor owned 75,856 shares of the company’s stock after selling 10,736 shares during the quarter. At the end of the most recent reporting period, The Manufacturers Life Insurance Company had an ownership share of 0.21% in Shockwave Medical worth $15,661,000.
Shockwave Medical is a medical device company that aims to revolutionize treatment for calcified cardiovascular disease. It specializes in developing and marketing M5 catheters for above-the-knee peripheral artery disease treatment and C2 catheters for coronary artery disease treatment. Additionally, S4 catheters are specifically designed to treat below-the-knee peripheral artery disease.
In recent news affecting the company’s stock price, CFO Dan Puckett sold 1,100 shares of Shockwave Medical stocks on March 20th at $200.74 per share; his total earnings were $220,814. His remaining holdings contain up to 33,658 shares worth $6,756,506.92 as of his latest disclosure with the SEC filed on May 29th.
VP Trinh Phung also reported selling off some Shockwave Medical shares worth around $66k on April 19th. Her shares rose from a sale price of $264.67 to become part of her current holding consisting of over twenty-three thousand shares costing $6+ million as part of insider trading activity over three months with insiders selling off more than twenty-seven thousand shares amounting to almost $7 million an interesting move by all insiders bringing about speculation over future developments within the corporation.
The business world continues to stay a buzz as people wait to see what they have planned next. Despite the decrease in holdings by certain institutional investors, Shockwave Medical holds promise as a leading innovator in cutting edge medical technology and treatments. The results of insider trading operations may also bring strategic advancements to the forefront for this organization.
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Shockwave Medical: Transforming Treatments for Calcified Cardiovascular Disease and Garnering Institutional Investor Interest
Shockwave Medical (NASDAQ:SWAV) is a medical device company that focuses on developing and commercializing products designed to transform the way calcified cardiovascular disease is treated. The company has garnered the attention of several hedge funds and institutional investors who have made substantial changes to their positions in SWAV. Anfield Capital Management LLC acquired a new position in shares of Shockwave Medical during the fourth quarter worth $38,000, while Trifecta Capital Advisors LLC and PenderFund Capital Management Ltd both acquired new stakes in shares of Shockwave Medical during the same period, with both investments being valued at $41,000.
Altshuler Shaham Ltd also acquired a new stake in shares of Shockwave Medical during the third quarter worth $58,000. Finally, IFP Advisors Inc raised its holdings in shares of Shockwave Medical by 15.1% during the third quarter and now owns 1,536 shares worth $64,000. Notably, 90.56% of Shockwave Medical’s stock is owned by institutional investors.
Several equities research analysts have issued reports on SWAV shares as well. Deutsche Bank Aktiengesellschaft lifted their price target to $310 from $285 for Shockwave Medical in a research note on Tuesday, May 9th. Canaccord Genuity Group lifted their price objective on shares of Shockwave Medical from $247.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 17th whereas Bank of America lifted their price objective from $235.00 to $275.00 and gave the company a “buy” rating in another research report dated Tuesday, April 11th.Piper Sandler also lifted their price objective from $280.00 to $315 and rated SWAV ‘buy’ as well.
Shockwave Medical operates with M5 catheters intended for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters for treating below-the-knee peripheral artery disease. As of June 9, 2023, shares of NASDAQ:SWAV opened at $288.32 with a market cap of $10.55 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 26.50 and a beta of 1.00.The company has a debt-to-equity ratio of 0.04, a current ratio of 4.16 and a quick ratio of 3.57.The firm has a moving average of $271.29 and $228.81 for the last fifty days and two hundred days respectively.SWAV’s one year low stands at $154.45 while its one year high is $320.54.
Shockwave Medical posted their quarterly earnings results on May 8th showing an EPS figure of $1.03 EPS for the quarter exceeding analysts’ consensus estimates that stood at $0.81 by $0.22 while generating revenue figures worth $161 million compared to the expected revenue figures amounting to approximately &147 million.SWAV’s net margin posted during the period was recorded as being43.18% with an ROE standing at55%.Shockwave Medical generated revenue figure in excess with72% increase YoY whilst posting an EPS figure amounted to$0.39 in comparison to this year’s EPS figure posted as$1.03.Analysts predict that Shockwave Medical will post 3.97 earnings per share for the current fiscal year.
In conclusion, Shockwave Medical looks poised to capitalize on increased demand in the cardiovascular device market from an aging population where minimally invasive procedures are often preferred over more invasive options SWAV offers patients.#