Wellington Management Group LLP Boosts Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Wellington Management Group LLP grew its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,470,419 shares of the company’s stock after purchasing an additional 664,648 shares during the quarter. Wellington Management Group LLP owned 6.61% of Shockwave Medical worth $470,763,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. purchased a new position in Shockwave Medical in the fourth quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in Shockwave Medical during the fourth quarter worth approximately $41,000. Operose Advisors LLC acquired a new stake in Shockwave Medical during the third quarter worth approximately $49,000. Covestor Ltd raised its holdings in Shockwave Medical by 484.9% during the third quarter. Covestor Ltd now owns 427 shares of the company’s stock worth $85,000 after purchasing an additional 354 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Shockwave Medical during the fourth quarter worth approximately $106,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. SVB Leerink reaffirmed a “market perform” rating and issued a $335.00 target price (down from $361.00) on shares of Shockwave Medical in a report on Monday, April 8th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $335.00 target price (up from $263.00) on shares of Shockwave Medical in a report on Friday, April 5th. Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $309.11.

Insider Activity at Shockwave Medical

In related news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $287.67, for a total transaction of $1,150,680.00. Following the completion of the transaction, the insider now owns 56,818 shares of the company’s stock, valued at approximately $16,344,834.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Laura Francis sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total transaction of $450,000.00. Following the sale, the director now directly owns 3,551 shares of the company’s stock, valued at approximately $1,065,300. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Shockwave Medical Price Performance

Shockwave Medical stock opened at $334.75 on Monday. Shockwave Medical, Inc. has a 52 week low of $157.00 and a 52 week high of $334.90. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97. The firm’s 50-day simple moving average is $331.20 and its 200 day simple moving average is $268.97. The firm has a market capitalization of $12.57 billion, a PE ratio of 78.21, a P/E/G ratio of 2.43 and a beta of 0.88.

Shockwave Medical (NASDAQ:SWAV) last released its quarterly earnings data on Monday, May 6th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $0.99 by $0.45. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 35.8% compared to the same quarter last year. On average, equities research analysts predict that Shockwave Medical, Inc. will post 5.05 EPS for the current fiscal year.

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.