Shockwave Medical closed at $269.61 in the latest trading session, marking a -1.44% move from the prior day. This move lagged the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the medical device compnay had lost 5.7% in the past month. In that same time, the Medical sector lost 1.92%, while the S&P 500 lost 3.76%.
Shockwave Medical will be looking to display strength as it nears its next earnings release. In that report, analysts expect Shockwave Medical to post earnings of $0.68 per share. This would mark year-over-year growth of 1260%. Our most recent consensus estimate is calling for quarterly revenue of $125.85 million, up 93.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.57 per share and revenue of $479.91 million. These totals would mark changes of +1088.46% and +102.37%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Shockwave Medical. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Shockwave Medical is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Shockwave Medical's current valuation metrics, including its Forward P/E ratio of 106.52. For comparison, its industry has an average Forward P/E of 26.45, which means Shockwave Medical is trading at a premium to the group.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
Shockwave Medical closed at $269.61 in the latest trading session, marking a -1.44% move from the prior day. This move lagged the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the medical device compnay had lost 5.7% in the past month. In that same time, the Medical sector lost 1.92%, while the S&P 500 lost 3.76%.
Shockwave Medical will be looking to display strength as it nears its next earnings release. In that report, analysts expect Shockwave Medical to post earnings of $0.68 per share. This would mark year-over-year growth of 1260%. Our most recent consensus estimate is calling for quarterly revenue of $125.85 million, up 93.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.57 per share and revenue of $479.91 million. These totals would mark changes of +1088.46% and +102.37%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Shockwave Medical. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Shockwave Medical is currently a Zacks Rank #1 (Strong Buy).
Investors should also note Shockwave Medical's current valuation metrics, including its Forward P/E ratio of 106.52. For comparison, its industry has an average Forward P/E of 26.45, which means Shockwave Medical is trading at a premium to the group.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.