Park Avenue Securities LLC Grows Stock Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Park Avenue Securities LLC increased its holdings in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,384 shares of the company’s stock after purchasing an additional 160 shares during the period. Park Avenue Securities LLC’s holdings in Shockwave Medical were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Shockwave Medical by 36.8% in the 4th quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after purchasing an additional 664,648 shares in the last quarter. Norges Bank purchased a new stake in Shockwave Medical during the fourth quarter worth $68,759,000. Jackson Square Partners LLC acquired a new stake in Shockwave Medical during the fourth quarter valued at $53,766,000. Armistice Capital LLC grew its position in Shockwave Medical by 168.0% during the fourth quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock valued at $81,189,000 after buying an additional 267,055 shares during the period. Finally, Eventide Asset Management LLC increased its holdings in Shockwave Medical by 42.3% in the fourth quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock valued at $96,465,000 after buying an additional 150,503 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SWAV has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Morgan Stanley reissued an “equal weight” rating and issued a $335.00 price objective (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Leerink Partnrs downgraded Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Needham & Company LLC reissued a “hold” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Finally, CL King restated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Shockwave Medical has an average rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Price Performance

Shockwave Medical stock opened at $334.75 on Friday. The company has a fifty day simple moving average of $332.60 and a 200-day simple moving average of $279.46. 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 has a market capitalization of $12.57 billion, a price-to-earnings ratio of 78.21, a PEG ratio of 2.43 and a beta of 0.88. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week high of $334.90.

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

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.