Shockwave Medical closed the most recent trading day at $296.82, moving +0.51% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the medical device compnay had gained 13.22% over the past month, outpacing the Medical sector's gain of 4.57% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Shockwave Medical as it approaches its next earnings release, which is expected to be November 7, 2022. 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, our latest consensus estimate is calling for revenue of $125.85 million, up 93.14% from the prior-year quarter.
SWAV's full-year Zacks Consensus Estimates are calling for earnings of $2.57 per share and revenue of $479.91 million. These results would represent year-over-year changes of +1088.46% and +102.37%, respectively.
Any recent changes to analyst estimates for Shockwave Medical should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Shockwave Medical is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Shockwave Medical is currently trading at a Forward P/E ratio of 115. Its industry sports an average Forward P/E of 26.24, so we one might conclude that Shockwave Medical is trading at a premium comparatively.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 48% 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.
To follow SWAV in the coming trading sessions, be sure to utilize Zacks.com.
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Shockwave Medical (SWAV) Gains As Market Dips: What You Should Know
Shockwave Medical closed the most recent trading day at $296.82, moving +0.51% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the medical device compnay had gained 13.22% over the past month, outpacing the Medical sector's gain of 4.57% and the S&P 500's gain of 4.58% in that time.
Investors will be hoping for strength from Shockwave Medical as it approaches its next earnings release, which is expected to be November 7, 2022. 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, our latest consensus estimate is calling for revenue of $125.85 million, up 93.14% from the prior-year quarter.
SWAV's full-year Zacks Consensus Estimates are calling for earnings of $2.57 per share and revenue of $479.91 million. These results would represent year-over-year changes of +1088.46% and +102.37%, respectively.
Any recent changes to analyst estimates for Shockwave Medical should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Shockwave Medical is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Shockwave Medical is currently trading at a Forward P/E ratio of 115. Its industry sports an average Forward P/E of 26.24, so we one might conclude that Shockwave Medical is trading at a premium comparatively.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 132, which puts it in the bottom 48% 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.
To follow SWAV in the coming trading sessions, be sure to utilize Zacks.com.