Artemis Investment Management LLP Buys Shares of 86,420 Shockwave Medical, Inc. (NASDAQ:SWAV)

Artemis Investment Management LLP bought a new stake in Shockwave Medical, Inc. (NASDAQ:SWAV) in the first quarter, Holdings Channel.com reports. The institutional investor bought 86,420 shares of the company’s stock, valued at approximately $28,130,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Shockwave Medical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock valued at $692,442,000 after acquiring an additional 33,539 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Shockwave Medical by 36.8% in the fourth quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock worth $470,763,000 after buying an additional 664,648 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Shockwave Medical by 7.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock worth $284,981,000 after buying an additional 97,356 shares during the last quarter. Eventide Asset Management LLC lifted its stake in shares of Shockwave Medical by 42.3% in the fourth quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock worth $96,465,000 after buying an additional 150,503 shares during the last quarter. Finally, Armistice Capital LLC lifted its stake in shares of Shockwave Medical by 168.0% in the fourth quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock worth $81,189,000 after buying an additional 267,055 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SWAV. Wolfe Research restated a “peer perform” 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 price objective (up from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Piper Sandler boosted 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. SVB Leerink restated a “market perform” rating and issued a $335.00 price objective (down from $361.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Finally, Leerink Partnrs cut shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a research note on Friday, April 5th. Ten equities 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, the company presently has an average rating of “Hold” and a consensus price target of $309.11.

Shockwave Medical Stock Performance

NASDAQ:SWAV traded down $0.08 during trading hours on Friday, hitting $334.75. 4,714,600 shares of the company traded hands, compared to its average volume of 968,088. The stock has a market capitalization 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. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $334.90. The firm has a 50-day moving average of $332.49 and a 200 day moving average of $277.59. 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 (NASDAQ:SWAV) last announced its quarterly earnings results 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 firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $207.69 million. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The business’s revenue for the quarter was up 35.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, analysts forecast that Shockwave Medical, Inc. will post 5.05 EPS for the current year.

About Shockwave Medical

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.