There is no way ShockWave Medical Inc. (SWAV) can keep these numbers up

ShockWave Medical Inc. (NASDAQ: SWAV) stock jumped 4.70% on Wednesday to $264.06 against a previous-day closing price of $252.21. With 0.46 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.49 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $268.31 whereas the lowest price it dropped to was $250.69. The 52-week range on SWAV shows that it touched its highest point at $320.54 and its lowest point at $113.36 during that stretch. It currently has a 1-year price target of $286.86. Beta for the stock currently stands at 1.01.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SWAV was up-trending over the past week, with a rise of 4.94%, but this was down by -10.58% over a month. Three-month performance dropped to -14.96% while six-month performance rose 58.33%. The stock gained 39.18% in the past year, while it has gained 48.07% so far this year. A look at the trailing 12-month EPS for SWAV yields 2.35 with Next year EPS estimates of 3.73. For the next quarter, that number is 0.99. This implies an EPS growth rate of 86.90% for this year and 25.36% for next year.

Float and Shares Shorts:

At present, 36.00 million SWAV shares are outstanding with a float of 35.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.67 million, which was 4.65% higher than short shares on Sep 14, 2022. In addition to Mr. Douglas E. Godshall M.B.A. as the firm’s Pres, CEO & Director, Mr. Daniel Puckett MBA serves as its CFO, Principal Financial Officer & Sec..


Institutional Ownership:

Through their ownership of 96.13% of SWAV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.08% of SWAV, in contrast to 33.34% held by mutual funds. Shares owned by individuals account for 1.55%. As the largest shareholder in SWAV with 10.48% of the stake, BlackRock Fund Advisors holds 3,765,494 shares worth 3,765,494. A second-largest stockholder of SWAV, The Vanguard Group, Inc., holds 3,437,130 shares, controlling over 9.57% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in SWAV, holding 2,884,038 shares or 8.03% stake. With a 3.01% stake in SWAV, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 1,079,669 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.85% of SWAV stock, is the second-largest Mutual Fund holder. It holds 1,023,490 shares valued at 300.04 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in SWAV, owning 880,672 shares worth 258.17 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SWAV since 7 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SWAV analysts setting a high price target of $338.00 and a low target of $165.00, the average target price over the next 12 months is $286.86. Based on these targets, SWAV could surge 28.0% to reach the target high and fall by -37.51% to reach the target low. Reaching the average price target will result in a growth of 8.63% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SWAV will report FY 2022 earnings on 02/16/2023. Analysts have provided yearly estimates in a range of $3.06 being high and $2.84 being low. For SWAV, this leads to a yearly average estimate of $2.97. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. ShockWave Medical Inc. surprised analysts by $0.25 when it reported $0.92 EPS against a consensus estimate of $0.67. The surprise factor in the prior quarter was $0.24. Based on analyst estimates, the high estimate for the next quarter is $1.07 and the low estimate is $0.85. The average estimate for the next quarter is thus $0.99.

Summary of Insider Activity:

Insiders traded SWAV stock several times over the past three months with 5 Buys and 10 Sells. In these transactions, 12,100 shares were bought while 20,792 shares were sold. The number of buy transactions has increased to 45 while that of sell transactions has risen to 158 over the past year. The total number of shares bought during that period was 225,201 while 233,956 shares were sold.

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