Artemis Investment Management LLP Makes New $28.13 Million Investment in Shockwave Medical, Inc. (NASDAQ:SWAV)

Artemis Investment Management LLP purchased a new position in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 86,420 shares of the company’s stock, valued at approximately $28,130,000. Artemis Investment Management LLP owned 0.23% of Shockwave Medical as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Shockwave Medical by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 3,633,720 shares of the company’s stock worth $692,442,000 after purchasing an additional 33,539 shares during the period. Wellington Management Group LLP raised its stake in shares of Shockwave Medical by 36.8% in the 4th quarter. Wellington Management Group LLP now owns 2,470,419 shares of the company’s stock valued at $470,763,000 after acquiring an additional 664,648 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Shockwave Medical by 7.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,495,492 shares of the company’s stock valued at $284,981,000 after acquiring an additional 97,356 shares during the period. Eventide Asset Management LLC raised its stake in shares of Shockwave Medical by 42.3% in the 4th quarter. Eventide Asset Management LLC now owns 506,220 shares of the company’s stock valued at $96,465,000 after acquiring an additional 150,503 shares during the period. Finally, Armistice Capital LLC raised its stake in shares of Shockwave Medical by 168.0% in the 4th quarter. Armistice Capital LLC now owns 426,057 shares of the company’s stock valued at $81,189,000 after acquiring an additional 267,055 shares during the period. Hedge funds and other institutional investors own 95.35% of the company’s stock.

Shockwave Medical Stock Down 0.0 %

SWAV stock traded down $0.08 during mid-day trading on Friday, hitting $334.75. 4,714,600 shares of the company were exchanged, compared to its average volume of 968,088. The company has a market capitalization of $12.57 billion, a PE ratio of 78.21, a price-to-earnings-growth 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 twelve month low of $157.00 and a twelve month high of $334.90. The firm has a fifty day simple moving average of $332.49 and a 200 day simple moving average of $277.59.

Shockwave Medical (NASDAQ:SWAV) last announced its quarterly earnings data on Monday, May 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.45. The company had revenue of $218.80 million during 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 firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. On average, research analysts forecast that Shockwave Medical, Inc. will post 5.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SWAV has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $335.00 target price (up previously from $270.00) on shares of Shockwave Medical in a research note on Monday, April 8th. Piper Sandler raised 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. CL King reaffirmed a “neutral” rating on shares of Shockwave Medical in a report on Monday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $335.00 price target (up from $285.00) on shares of Shockwave Medical in a report on Monday, April 8th. Finally, Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. 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.com, the stock has a consensus rating of “Hold” and an average price target of $309.11.

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.