We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shockwave Medical (SWAV) Moves 10.6% Higher: Will This Strength Last?
Read MoreHide Full Article
Shockwave Medical shares ended the last trading session 10.6% higher at $251.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.5% gain over the past four weeks.
Shockwave Medical recorded a strong price increase after it announced the completion of its previously announced acquisition of Neovasc Inc. The buyout gives Shockwave Medical access to Neovasc’s Reducer System, which is a first-of-its-kind technology to address refractory angina. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues and earnings compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 8.
This medical device compnay is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $145.6 million, up 55.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Shockwave Medical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SWAV going forward to see if this recent jump can turn into more strength down the road.
Shockwave Medical belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Hologic (HOLX - Free Report) , closed the last trading session 0.6% higher at $83.54. Over the past month, HOLX has returned 6.1%.
Hologic's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.88. Compared to the company's year-ago EPS, this represents a change of -57.5%. Hologic currently boasts a Zacks Rank of #2 (Buy).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Shockwave Medical (SWAV) Moves 10.6% Higher: Will This Strength Last?
Shockwave Medical shares ended the last trading session 10.6% higher at $251.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.5% gain over the past four weeks.
Shockwave Medical recorded a strong price increase after it announced the completion of its previously announced acquisition of Neovasc Inc. The buyout gives Shockwave Medical access to Neovasc’s Reducer System, which is a first-of-its-kind technology to address refractory angina. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues and earnings compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 8.
This medical device compnay is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of +100%. Revenues are expected to be $145.6 million, up 55.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Shockwave Medical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SWAV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Shockwave Medical belongs to the Zacks Medical - Instruments industry. Another stock from the same industry, Hologic (HOLX - Free Report) , closed the last trading session 0.6% higher at $83.54. Over the past month, HOLX has returned 6.1%.
Hologic's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.88. Compared to the company's year-ago EPS, this represents a change of -57.5%. Hologic currently boasts a Zacks Rank of #2 (Buy).