Shockwave Medical, Inc. (NASDAQ:SWAV) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in Shockwave Medical, Inc. (NASDAQ:SWAV) by 7.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,705 shares of the company’s stock after purchasing an additional 112 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Shockwave Medical were worth $325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of Shockwave Medical by 24.9% during the third quarter. HighTower Advisors LLC now owns 2,500 shares of the company’s stock worth $501,000 after acquiring an additional 498 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Shockwave Medical during the 3rd quarter valued at approximately $204,000. Envestnet Asset Management Inc. raised its holdings in shares of Shockwave Medical by 85.2% in the third quarter. Envestnet Asset Management Inc. now owns 37,533 shares of the company’s stock worth $7,473,000 after buying an additional 17,271 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Shockwave Medical by 47.8% during the third quarter. Hsbc Holdings PLC now owns 1,119 shares of the company’s stock worth $223,000 after buying an additional 362 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Shockwave Medical by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock valued at $3,263,000 after buying an additional 60 shares during the last quarter. 95.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley restated an “equal weight” rating and issued a $335.00 target price (up previously from $285.00) on shares of Shockwave Medical in a research note on Monday, April 8th. CL King reaffirmed a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $335.00 price target (up previously from $270.00) on shares of Shockwave Medical in a report on Monday, April 8th. SVB Leerink restated a “market perform” rating and set a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Piper Sandler increased their price objective on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Stock Down 0.0 %

SWAV stock opened at $334.75 on Friday. The firm 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. The firm’s fifty day moving average is $332.60 and its 200 day moving average is $279.46. Shockwave Medical, Inc. has a one year low of $157.00 and a one year high of $334.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 12.61 and a current ratio of 13.81.

Shockwave Medical (NASDAQ:SWAV) last posted 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 net margin of 20.75% and a return on equity of 24.79%. The company had revenue of $218.80 million during the quarter, compared to the consensus estimate of $207.69 million. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, research analysts forecast that Shockwave Medical, Inc. will post 5.05 EPS for the current 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.