Russell Investments Group Ltd. Reduces Position in ShockWave Medical, Inc. (NASDAQ:SWAV)

Russell Investments Group Ltd. lessened its holdings in shares of ShockWave Medical, Inc. (NASDAQ:SWAVGet Rating) by 21.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,685 shares of the company’s stock after selling 10,987 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of ShockWave Medical worth $8,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its stake in shares of ShockWave Medical by 104.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Signaturefd LLC lifted its stake in shares of ShockWave Medical by 73.6% during the 1st quarter. Signaturefd LLC now owns 224 shares of the company’s stock valued at $46,000 after buying an additional 95 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of ShockWave Medical by 67.7% during the 4th quarter. First Horizon Advisors Inc. now owns 260 shares of the company’s stock valued at $45,000 after buying an additional 105 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of ShockWave Medical during the 4th quarter valued at $53,000. Finally, UMB Bank N A MO purchased a new position in shares of ShockWave Medical during the 1st quarter valued at $63,000. Hedge funds and other institutional investors own 89.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of ShockWave Medical from $221.00 to $190.00 in a research note on Tuesday, May 10th. Wells Fargo & Company lowered their target price on shares of ShockWave Medical from $235.00 to $176.00 in a research note on Tuesday, May 10th. Finally, Morgan Stanley lifted their price target on shares of ShockWave Medical from $180.00 to $201.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.43.

Insider Transactions at ShockWave Medical

In other news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $208.28, for a total value of $833,120.00. Following the sale, the insider now directly owns 74,563 shares in the company, valued at approximately $15,529,981.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Isaac Zacharias sold 4,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $208.28, for a total value of $833,120.00. Following the sale, the insider now directly owns 74,563 shares in the company, valued at approximately $15,529,981.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas Evan Godshall sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $140.87, for a total transaction of $2,113,050.00. Following the transaction, the chief executive officer now owns 142,926 shares in the company, valued at $20,133,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 51,112 shares of company stock worth $8,574,488 in the last three months. Insiders own 15.30% of the company’s stock.

ShockWave Medical Stock Performance

ShockWave Medical stock opened at $223.14 on Monday. The company’s 50-day moving average price is $192.75 and its 200-day moving average price is $176.96. ShockWave Medical, Inc. has a twelve month low of $113.36 and a twelve month high of $249.73. The company has a quick ratio of 5.03, a current ratio of 6.07 and a debt-to-equity ratio of 0.03. The company has a market cap of $7.99 billion, a PE ratio of 289.79 and a beta of 1.24.

ShockWave Medical (NASDAQ:SWAVGet Rating) last posted its earnings results on Monday, May 9th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.20. ShockWave Medical had a net margin of 9.70% and a return on equity of 12.36%. The firm had revenue of $93.70 million for the quarter, compared to the consensus estimate of $86.41 million. During the same period in the previous year, the firm posted ($0.68) EPS. The business’s quarterly revenue was up 193.7% on a year-over-year basis. On average, equities research analysts forecast that ShockWave Medical, Inc. will post 2.02 EPS for the current fiscal year.

About ShockWave Medical

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ShockWave Medical, Inc, a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD.

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