Shockwave Medical Inc. (NASDAQ:SWAV) saw an upside of 0.38% to close Friday at $220.98 after adding $0.83 on the day. The 5-day average trading volume is 520,640 shares of the company’s common stock. It has gained $231.77 in the past week and touched a new high 2 times within the past 5 days. An average of 598,845 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 612,708.
SWAV’s 1-month performance is -17.61% or -$49.44 on its low of $210.90 reached on 08/10/23. The company’s shares have touched a 52-week low of $172.50 and high of $320.54, with the stock’s rally to the 52-week high happening on 06/14/23. YTD, SWAV has achieved 7.48% or $15.37 and has reached a new high 19 times. However, the current price is down -31.06% from the 52-week high price.
Insider Transactions
SWAV stock investors last saw insider trading activity on Aug 15.Toyloy Sara (Director) most recently sold 100 shares at $223.64 per share on Aug 15. This transaction cost the insider $22,364. President, CCO, Zacharias Isaac, sold 4,000 shares at a price of $268.06 on Jul 26. Then, on Jul 20, Director WATKINS FRANK T sold 3,000 shares at a price of $267.17 per share. This transaction amounted to $801,507.
Valuation Metrics
SWAV stock has a beta of 1.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 13.12 while the price-to-book (PB) in the most recent quarter is 13.13, with the price to cash flow ratio at 64.00.
Shockwave Medical Inc.’s quick ratio for the period ended June 29 was 4.50, with the current ratio over the same period at 5.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.04, while the total debt to equity was 0.04. In terms of profitability, the gross margin trailing 12 months is 86.90%. The trailing 12-month EBITDA margin is 26.96% while for the period ending June 29, Shockwave Medical Inc.’s operating margin was 24.60%. The firm’s gross profit as reported stood at $424.74 million against revenue of $489.73 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 11.43% to $28.86 million, while revenue of $39.13 million was -35.59% off the previous quarter. Analysts expected SWAV to announce $0.85 per share in earnings in its latest quarter, but it posted $0.76, representing a -10.60% surprise. EBITDA for the quarter stood at more than $34.98 million. SWAV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 169.69 million, with total debt at $59.05 million. Shareholders hold equity totaling $36.75 million.
Let’s look briefly at Shockwave Medical Inc. (SWAV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 29.14% to suggest the stock is trending oversold, with historical volatility in this time period at 65.89%.
The stock’s 5-day moving average is $223.22, reflecting a -1.90% or -$4.28 change from its current price. SWAV is currently trading -19.93% above its 20-day SMA, +1.40% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -23.07% and SMA200 by-24.62%.
Stochastic %K and %D was 17.95% and 19.46% and the average true range (ATR) pointed at 8.95. The RSI (14) points at 30.17%, while the 14-day stochastic is at 20.12% with the period’s ATR at 9.25. The stock’s 9-day MACD Oscillator is pointing at -3.14 and -13.23 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Shockwave Medical Inc. (NASDAQ: SWAV), Morgan Stanley upgraded it to an Overweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for SWAV stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate SWAV as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.
What is SWAV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $165.00 and a high of $330.00, with their median price target at $310.00. Looking at these predictions, the average price target given by analysts is for Shockwave Medical Inc. (SWAV) stock is $284.89.
