This Analyst Recently Issued Research Note On ShockWave Medical Inc. (SWAV)


As of Wednesday close, ShockWave Medical Inc.’s (NASDAQ:SWAV) stock was up $11.85, moving up 4.70 percent to $264.06. The average number of shares traded per day over the past five days has been 379,860 shares. 3 times new highs have been achieved over the past 5 days, with a $12.42 gain in that time frame. In the last twenty days, the average volume was 548,445, while in the previous 50 days, it was 482,826.

Since last month, SWAV stock retreated -10.58%. Shares of the company fell to $234.81 on 11/14/22, the lowest level in the past month. A 52-week high of $320.54 was reached on 10/26/22 after having rallying from a 52-week low of $113.36. Since the beginning of this year, SWAV’s stock price has risen by 48.07% or $85.73, and marked a new high 24 times. However, the stock has declined by -17.62% since its 52-week high.

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SWAV stock investors should be aware that ShockWave Medical Inc. (SWAV) stock had its last reported insider trading activity 3 days ago on Nov 21. PUCKETT DAN, the Chief Financial Officer of the company, disposed of 1,100 shares for $246.96 on Nov 21. It resulted in a $271,656 divestment by the insider. WATKINS FRANK T sold 3,000 shares at an average price of $244.44 on Nov 17. The insider now owns 3,796 shares following the transaction. On Nov 14, President & CEO Godshall Douglas Evan sold 30,000 shares at $240.81 apiece. The transaction was valued at $7,224,301.

Valuation Metrics

Right now, ShockWave Medical Inc. (SWAV) has a P/E ratio of about 112.22. The stock’s beta is 1.01. Besides these, the trailing price-to-sales (P/S) ratio of 22.04, the price-to-book (PB) ratio of 26.70, and the price-to-cash flow ratio of 136.95 may also be considered.

Financial Health

In the three months ended June 29, ShockWave Medical Inc.’s quick ratio stood at 6.00, while its current ratio was 7.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.04, and the total debt-to-equity ratio was 0.04. On the profitability front, the trailing twelve-month gross margin is 86.00% percent. In the year ended June 29, operating margins totaled 22.20%. Based on annual data, SWAV earned $195.71 million in gross profit and brought in $237.15 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -0.50%. Return on equity (ROE) for the past 12 months was 30.10%.

In ShockWave Medical Inc.’s quarter-end financial report for June 29, it reported total debt of $14.85 million against cash and short-term investments of $122.89 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. SWAV’s revenue rose 50.38% to $120.75 million during the quarter, while net income inched up to $131.33 million. While analysts expected ShockWave Medical Inc. to report $0.44 quarterly earnings, the actual figure was $0.68 per share, beating the consensus estimate by 54.50%. During the quarter, the company generated $36.65 million in EBITDA. The liabilities of ShockWave Medical Inc. were 119.88 million at the end of its most recent quarter ended June 29, and its total debt was $47.28 million. The value of shareholders’ equity is $36.14 million.

Technical Picture

This quick technical analysis looks at ShockWave Medical Inc.’s (SWAV) price momentum. With a historical volatility rate of 64.94%, the RSI 9-day stood at 53.71% on 23 November.

With respect to its five-day moving average, the current ShockWave Medical Inc. price is up by +4.94% percent or $12.42. At present, SWAV shares trade -11.04% below its 20-day simple moving average and +30.84% percent above its 100-day simple moving average. However, the stock is currently trading approximately -9.38% below its SMA50 and +70.10% above its SMA200.

Stochastic coefficient K was 34.54% and Stochastic coefficient D was 25.07%, while ATR was 15.56. Given the Stochastic reading of 59.84% for the 14-day period, the RSI (14) reading has been calculated as 50.34%. As of today, the MACD Oscillator reading stands at 2.81, while the 14-day reading stands at -2.91.

Analyst Ratings

ShockWave Medical Inc. downgraded its rating on ShockWave Medical Inc. (NASDAQ: SWAV) to an Underperform in a note to investors on September 06, 2022. The analysts firm previously had a Perform rating on the stock.


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