Amalgamated Bank Trims Holdings in Shockwave Medical, Inc. (NASDAQ:SWAV)

Amalgamated Bank reduced its stake in Shockwave Medical, Inc. (NASDAQ:SWAV) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,004 shares of the company’s stock after selling 2,054 shares during the quarter. Amalgamated Bank’s holdings in Shockwave Medical were worth $4,765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SWAV. Lindbrook Capital LLC grew its position in Shockwave Medical by 64.8% during the third quarter. Lindbrook Capital LLC now owns 150 shares of the company’s stock worth $30,000 after buying an additional 59 shares during the period. EverSource Wealth Advisors LLC lifted its position in Shockwave Medical by 297.4% during the third quarter. EverSource Wealth Advisors LLC now owns 155 shares of the company’s stock worth $31,000 after buying an additional 116 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Shockwave Medical in the 4th quarter valued at about $34,000. Operose Advisors LLC acquired a new position in shares of Shockwave Medical during the 3rd quarter valued at about $49,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Shockwave Medical in the third quarter worth approximately $82,000. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SWAV. Piper Sandler lifted their price target on shares of Shockwave Medical from $290.00 to $360.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Canaccord Genuity Group restated a “hold” rating and set a $335.00 price target (up from $263.00) on shares of Shockwave Medical in a research note on Friday, April 5th. CL King reaffirmed a “neutral” rating on shares of Shockwave Medical in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Shockwave Medical in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $309.11.

Shockwave Medical Price Performance

SWAV stock opened at $330.49 on Wednesday. The company has a market capitalization of $12.40 billion, a PE ratio of 85.40, a P/E/G ratio of 2.46 and a beta of 0.88. The company has a quick ratio of 10.73, a current ratio of 11.76 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average is $304.38 and its two-hundred day moving average is $240.04. Shockwave Medical, Inc. has a 52-week low of $157.00 and a 52-week high of $331.58.

Shockwave Medical (NASDAQ:SWAV) last posted 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 analysts’ expectations of $207.69 million. Shockwave Medical had a net margin of 20.17% and a return on equity of 23.97%. The firm’s quarterly revenue was up 35.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Analysts predict that Shockwave Medical, Inc. will post 4.94 earnings per share for the current fiscal year.

Insider Activity at Shockwave Medical

In other news, VP Trinh Phung sold 599 shares of Shockwave Medical stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $259.24, for a total value of $155,284.76. Following the completion of the transaction, the vice president now owns 31,031 shares in the company, valued at approximately $8,044,476.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Shockwave Medical news, VP Trinh Phung sold 599 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $259.24, for a total transaction of $155,284.76. Following the completion of the sale, the vice president now owns 31,031 shares in the company, valued at $8,044,476.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Evan Godshall sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $231.56, for a total transaction of $2,315,600.00. Following the sale, the chief executive officer now directly owns 162,762 shares of the company’s stock, valued at approximately $37,689,168.72. The disclosure for this sale can be found here. Insiders sold a total of 83,120 shares of company stock valued at $21,319,021 over the last three months. 3.40% of the stock is owned by insiders.

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.