Shockwave Medical closed at $274.67 in the latest trading session, marking a +1.84% move from the prior day. This move lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the medical device compnay had lost 7.44% over the past month, outpacing the Medical sector's loss of 8.72% and the S&P 500's loss of 12.9% in that time.
Shockwave Medical will be looking to display strength as it nears its next earnings release. On that day, Shockwave Medical is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 1260%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.85 million, up 93.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.57 per share and revenue of $479.91 million, which would represent changes of +1088.46% and +102.37%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Shockwave Medical. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Shockwave Medical is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Shockwave Medical has a Forward P/E ratio of 105.03 right now. This represents a premium compared to its industry's average Forward P/E of 25.48.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Shockwave Medical (SWAV) Gains But Lags Market: What You Should Know
Shockwave Medical closed at $274.67 in the latest trading session, marking a +1.84% move from the prior day. This move lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the medical device compnay had lost 7.44% over the past month, outpacing the Medical sector's loss of 8.72% and the S&P 500's loss of 12.9% in that time.
Shockwave Medical will be looking to display strength as it nears its next earnings release. On that day, Shockwave Medical is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 1260%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.85 million, up 93.14% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.57 per share and revenue of $479.91 million, which would represent changes of +1088.46% and +102.37%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Shockwave Medical. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Shockwave Medical is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Shockwave Medical has a Forward P/E ratio of 105.03 right now. This represents a premium compared to its industry's average Forward P/E of 25.48.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.