PNC Financial Services Group Inc. Has $325,000 Stock Position in Shockwave Medical, Inc. (NASDAQ:SWAV)

PNC Financial Services Group Inc. raised its holdings in shares of Shockwave Medical, Inc. (NASDAQ:SWAV) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,705 shares of the company’s stock after buying an additional 112 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Shockwave Medical were worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Robbins Farley increased its position in Shockwave Medical by 1.0% during the fourth quarter. Robbins Farley now owns 4,542 shares of the company’s stock worth $866,000 after acquiring an additional 45 shares during the period. Parallel Advisors LLC increased its holdings in shares of Shockwave Medical by 3.8% during the 4th quarter. Parallel Advisors LLC now owns 1,268 shares of the company’s stock worth $242,000 after purchasing an additional 47 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Shockwave Medical by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 16,390 shares of the company’s stock valued at $3,263,000 after buying an additional 60 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Shockwave Medical by 1.1% in the fourth quarter. State of Michigan Retirement System now owns 8,900 shares of the company’s stock valued at $1,696,000 after buying an additional 100 shares during the period. Finally, Lincoln National Corp grew its position in Shockwave Medical by 9.7% during the fourth quarter. Lincoln National Corp now owns 1,397 shares of the company’s stock worth $266,000 after buying an additional 123 shares in the last quarter. 95.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SWAV. CL King reiterated a “neutral” rating on shares of Shockwave Medical in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $335.00 target price (up from $285.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Leerink Partnrs lowered shares of Shockwave Medical from an “outperform” rating to a “market perform” rating in a report on Friday, April 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Shockwave Medical in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $335.00 target price (up from $270.00) on shares of Shockwave Medical in a research report on Monday, April 8th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $309.11.

Shockwave Medical Trading Down 0.0 %

SWAV stock opened at $334.75 on Friday. The business has a fifty day moving average of $332.60 and a 200-day moving average of $279.46. The company has a market cap of $12.57 billion, a P/E ratio of 78.21, a PEG ratio of 2.43 and a beta of 0.88. Shockwave Medical, Inc. has a twelve month low of $157.00 and a twelve month high of $334.90. The company has a quick ratio of 12.61, a current ratio of 13.81 and a debt-to-equity ratio of 0.97.

Shockwave Medical (NASDAQ:SWAV) last released its earnings results on Monday, May 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.45. The company had revenue of $218.80 million for the quarter, compared to the consensus estimate of $207.69 million. Shockwave Medical had a net margin of 20.75% and a return on equity of 24.79%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 EPS. As a group, equities research analysts expect that Shockwave Medical, Inc. will post 5.05 EPS for the current year.

Shockwave Medical Profile

Shockwave Medical, Inc, a medical device company, develops and commercializes intravascular lithotripsy (IVL) technology for the treatment of calcified plaque in patients with peripheral and coronary vascular, and heart valve diseases in the United States and internationally. The company offers products for the treatment of peripheral artery disease (PAD), including M5 IVL catheter and M5+ IVL catheter, which are five-emitter catheters used in IVL system in medium-diameter vessels; S4 IVL catheter, a four-emitter catheter for use in IVL system in small-diameter vessels; and L6 IVL catheter, a six-emitter catheter used for IVL System in large diameter vessels.