The stock of Shockwave Medical Inc. (NASDAQ:SWAV) increased by $10.28 on Friday to finish at $214.47, up 5.03 percent. The last five days have seen an average of 583,220 shares of common stock traded. 19 times new highs were reached in the current year, with a gain of $8.86. The average number of shares traded over the last 20 days was 668,700, while the average volume over the last 50 days totaled 622,538.
SWAV stock dropped -19.58% since last month. On 08/24/23, the company’s shares reached a one-month low of $203.44. The stock touched a high of $320.54 on 06/14/23, after rallying from a low of $172.50 in 52 weeks. The price of SWAV stock has risen by 4.31% or $8.86 this year, reaching a new high 19 times. Still, the stock price is down -33.09% from the 52-week high.
Insider Transactions
SWAV stock investors should be aware that Shockwave Medical Inc. (SWAV) stock had its last reported insider trading activity 4 days ago on Aug 24. On Aug 24, President & CEO Godshall Douglas Evan sold 10,000 shares at $214.62 each. This transaction resulted in the insider making $2,146,171. On Aug 22, FRANCIS LAURA sold 497 shares at a price of US$220.97. After the transaction, the insider now owns 3,054 shares. Director WATKINS FRANK T had earlier sold 3,000 shares on Aug 21 for $219.29 a share. The transaction was completed for $657,870.
Valuation Metrics
Shockwave Medical Inc. (SWAV) has a trailing price-to-earnings (P/E) ratio of 33.47. Beta for the stock is 1.02. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 12.17, the price-to-book (PB) ratio of 12.74, and the price-to-cash flow ratio of 59.37.
Financial Health
For the three months ended June 29, Shockwave Medical Inc.’s quick ratio was 4.50, while its current ratio was 5.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.04, and the total debt to equity ratio is 0.04. As far as profitability goes, gross margin for the trailing twelve months is 86.90% percent. Shockwave Medical Inc.’s EBITDA margin for the year ended June 29 was 26.96%, whereas its operating margin stood at 24.60% for the same period. Based on annual data, it had gross profit of $424.74 million and revenue of $489.73 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SWAV’s return on assets (ROA) during the last 12 months has been 36.20%. There was a 41.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 47.50%.
Earnings Surprise
According to Shockwave Medical Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $179.67 million, while revenues rose by 32.79% to $161.07 million. It was predicted that Shockwave Medical Inc.’s quarterly earnings would be $0.76, but it ended up being $0.85, beating the consensus by -10.60%. EBITDA was $34.98 million for the quarter. At the end of Shockwave Medical Inc.’s most recent quarter ended June 29, its liabilities totaled 169.69 million, while its total debt was $59.05 million. Equity owned by shareholders amounts to $36.75 million.
Technical Picture
Here’s a quick look at Shockwave Medical Inc.’s (SWAV) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 36.25%, suggesting the stock is Neutral, with a 52.94% historical volatility rate.
The stochastic %K and %D were 20.83% and 19.96% respectively, while the average true range (ATR) was 9.40. Based on the 14-day stochastic reading of 34.97%, the RSI (14) reading is 34.52%. On the 9-day MACD Oscillator, the stock is at -4.97, and the 14-day reading is at -7.37.
Analyst Ratings
In its most recent analyst report, Morgan Stanley raised its rating on Shockwave Medical Inc. (NASDAQ: SWAV) to an Overweight. Prior to this, analysts firm rated the stock as an Equal-weight. Analysts have assigned Shockwave Medical Inc. (SWAV) an Overweight rating. SWAV is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 7 others recommend it as a buy.
What is SWAV’s price target for the next 12 months?
The current consensus forecast for the stock is between $165.00 and $330.00, with a median target price of $310.00. In analyzing these forecasts, the average price target given by analysts for Shockwave Medical Inc. (SWAV) is $284.89.
