665 Shares in Shockwave Medical, Inc. (NASDAQ:SWAV) Purchased by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC acquired a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 665 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors have also added to or reduced their stakes in SWAV. HighTower Advisors LLC lifted its holdings in Shockwave Medical by 24.9% during the 3rd quarter. HighTower Advisors LLC now owns 2,500 shares of the company’s stock worth $501,000 after purchasing an additional 498 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Shockwave Medical during the 3rd quarter worth about $204,000. Envestnet Asset Management Inc. lifted its holdings in Shockwave Medical by 85.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 37,533 shares of the company’s stock worth $7,473,000 after purchasing an additional 17,271 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Shockwave Medical by 47.8% during the 3rd quarter. Hsbc Holdings PLC now owns 1,119 shares of the company’s stock worth $223,000 after purchasing an additional 362 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Shockwave Medical by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock worth $3,263,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Shockwave Medical Stock Performance

Shares of NASDAQ SWAV opened at $334.75 on Friday. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 78.21, a P/E/G ratio of 2.43 and a beta of 0.88. The company has a current ratio of 13.81, a quick ratio of 12.61 and a debt-to-equity ratio of 0.97. Shockwave Medical, Inc. has a 1-year low of $157.00 and a 1-year high of $334.90. The stock’s 50-day moving average is $332.60 and its 200 day moving average is $279.46.

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

Wall Street Analysts Forecast Growth

SWAV has been the topic of a number of research analyst reports. CL King restated a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Leerink Partnrs lowered Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Needham & Company LLC restated a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Piper Sandler upped their target price on Shockwave Medical from $290.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, 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.