Teachers Retirement System of The State of Kentucky Sells 600 Shares of Shockwave Medical, Inc. (NASDAQ:SWAV)

Teachers Retirement System of The State of Kentucky trimmed its position in Shockwave Medical, Inc. (NASDAQ:SWAV) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,813 shares of the company’s stock after selling 600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Shockwave Medical were worth $2,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Eventide Asset Management LLC lifted its stake in Shockwave Medical by 42.3% in the 4th quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock valued at $96,465,000 after acquiring an additional 150,503 shares in the last quarter. Brown Capital Management LLC boosted its holdings in Shockwave Medical by 207.7% during the fourth quarter. Brown Capital Management LLC now owns 68,399 shares of the company’s stock worth $13,034,000 after purchasing an additional 46,169 shares during the last quarter. First Light Asset Management LLC bought a new position in Shockwave Medical in the fourth quarter valued at $22,795,000. Point72 Europe London LLP acquired a new stake in Shockwave Medical in the 4th quarter valued at $14,423,000. Finally, Regal Investment Advisors LLC bought a new stake in Shockwave Medical during the 4th quarter worth about $788,000. 95.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Shockwave Medical 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Laura Francis sold 1,500 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $300.00, for a total value of $450,000.00. Following the transaction, the director now owns 3,551 shares in the company, valued at $1,065,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Isaac Zacharias sold 4,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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. 3.40% of the stock is owned by insiders.

Shockwave Medical Stock Performance

Shares of NASDAQ:SWAV opened at $334.75 on Friday. Shockwave Medical, Inc. has a 12-month low of $157.00 and a 12-month high of $334.90. The business has a 50 day moving average of $331.76 and a 200-day moving average of $272.05. 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 stock has a market cap 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 issued its quarterly earnings data on Monday, May 6th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. Shockwave Medical had a return on equity of 24.79% and a net margin of 20.75%. The firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. During the same period in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 35.8% on a year-over-year basis. As a group, equities research analysts forecast that Shockwave Medical, Inc. will post 5.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SWAV. Wolfe Research reaffirmed a “peer perform” rating on shares of Shockwave Medical in a research report on Friday, April 5th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $335.00 price target (up previously from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, Morgan Stanley restated an “equal weight” rating and set a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Company 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.