Shockwave Medical Inc Stock Research

Market Summary

USD216.83+2.67

Market Closed

1.25%

SWAV Alerts

7 major insider sales recently.
Big jump in Revenue (Y/Y)
Big jump in Earnings (Y/Y)

SWAV Stock Price

SWAV RSI Chart

SWAV Valuation

Market Cap

7.2T

Price/Earnings (Trailing)

82.2K

Price/Sales (Trailing)

16.8K

EV/EBITDA

76.4K

Price/Free Cashflow

104.4K

SWAV Price/Sales (Trailing)

SWAV Profitability

EBT Margin

24.67%

Return on Equity

42.24%

Return on Assets

33.43%

Free Cashflow Yield

10e-4%

SWAV Fundamentals

SWAV Revenue

Revenue (TTM)

489.7M

Revenue Y/Y

71.09%

Revenue Q/Q

9.67%

SWAV Earnings

Earnings (TTM)

216.0M

Earnings Y/Y

988.79%

Earnings Q/Q

302.57%

Price Action

52 Week Range

113.36320.54

(Low)(High)

Last 7 days

1.2%

Last 30 days

14.6%

Last 90 days

5.5%

Trailing 12 Months

4.6%

SWAV Financial Health

Current Ratio

7.25

Debt/Equity

0.03

Debt/Cashflow

7.93

SWAV Investor Care

Shares Dilution (1Y)

2.27%

Diluted EPS (TTM)

5.7

Peers (Alternatives to Shockwave Medical)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
SYK	108.0B	18.4B	9.81%	7.15%	45.81	5.86	7.84%	18.25%
ISRG	89.4B	6.2B	12.38%	-15.32%	67.62	14.37	8.97%	-22.43%
BSX	71.6B	12.7B	6.86%	12.96%	102.61	5.65	6.68%	-32.95%
BDX	70.1B	19.0B	7.04%	-3.24%	43.54	3.69	-0.43%	-8.78%
EW	50.3B	5.4B	3.61%	-29.72%	33.07	9.35	2.86%	1.25%
MID-CAP
SWAV	7.2T	489.7M	14.55%	4.57%	82.2K	16.8K	106.51%	2464.23%
PEN	10.6B	847.1M	7.86%	25.46%	-5.3K	12.54	13.32%	-137.89%
GMED	5.6B	1.0B	-2.14%	-23.23%	32.76	5.52	6.76%	24.45%
IRTC	3.7B	410.9M	4.99%	-21.24%	-32.24	9.11	27.29%	-14.60%
TNDM	2.6B	801.2M	10.62%	-65.08%	-27.7	3.27	14.00%	-707.69%
SMALL-CAP
ATEC	1.7B	350.9M	3.38%	35.65%	-10.93	4.74	44.26%	-5.42%
SILK	1.5B	138.6M	-18.17%	-5.23%	-27.28	10.83	36.62%	-10.44%
AVNS	1.4B	820.0M	5.46%	-11.22%	27.4	1.69	10.13%	701.59%
CSII	833.4M	239.8M	0.46%	-12.12%	-22.01	3.47	-4.74%	-31.15%

Financials for Shockwave Medical

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	13.9%	490	430	364	299	237
Gross Profit	14.9%	425	370	310	252	196
S&GA Expenses	6.8%	162	152	138	123	111
R&D Expenses	12.4%	82.00	73.00	66.00	57.00	51.00
EBITDA	34.8%	128	95.00	61.00	34.00	-4.14
EBITDA Margin	18.3%	0.26*	0.22*	0.17*	0.11*	-0.02*
Earnings Before Taxes	35.4%	121	89.00	56.00	29.00	-8.84
EBT Margin	18.9%	0.25*	0.21*	0.15*	0.10*	-0.04*
Interest Expenses	55.5%	2.00	1.00	1.00	1.00	1.00
Net Income	145.4%	216	88.00	55.00	29.00	-9.14
Net Income Margin	115.4%	0.44*	0.20*	0.15*	0.10*	-0.04*
Free Cahsflow	33.7%	93.00	69.00	48.00	23.00	3.00

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	35.8%	646	476	417	373	346
Current Assets	16.2%	459	395	352	310	286
Cash Equivalents	22.5%	157	128	100	66.00	89.00
Inventory	8.9%	75.00	69.00	60.00	53.00	43.00
Net PPE	22.6%	48.00	39.00	32.00	28.00	24.00
Liabilities	12.4%	135	120	112	105	104
Current Liabilities	16.9%	63.00	54.00	66.00	51.00	52.00
Long Term Debt	-14.8%	15.00	17.00	17.00	17.00	-
LT Debt, Current	-100.0%	-	6.00	-	-	-
LT Debt, Non Current	130.6%	15.00	6.00	9.00	12.00	-
Shareholder's Equity	43.7%	511	356	305	268	242
Retained Earnings	79.3%	-36.81	-177	-212	-238	-252
Additional Paid-In Capital	2.6%	549	535	519	507	495
Accumulated Depreciation	-	6.00	-	-	-	-
Shares Outstanding	NaN%	-	-	35,826	35,587	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	36.7%	118	86.00	61.00	34.00	15.00
Share Based Compensation	11.0%	45.00	40.00	36.00	32.00	27.00
Cashflow From Investing	-24.4%	-62.15	-49.98	-49.48	-28.08	26.00
Cashflow From Financing	233.1%	13.00	4.00	6.00	3.00	-2.45

Risks for SWAV

What is the probability of a big loss on SWAV?

98.1%

Probability that Shockwave Medical stock will be more than 20% underwater in next one year

71.5%

Probability that Shockwave Medical stock will be more than 30% underwater in next one year.

61.2%

Probability that Shockwave Medical stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SWAV drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Shockwave Medical was unfortunately bought at previous high price.

Drawdowns

Returns for SWAV

Cumulative Returns on SWAV

87.0%

3-Year Cumulative Returns

Which funds bought or sold SWAV recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-29	Diametric Capital, LP	reduced	-25.35	-773,203	952,797	0.46%
2023-03-23	MetLife Investment Management, LLC	reduced	-1.35	-3,104,080	8,368,530	0.07%
2023-03-17	American Portfolios Advisors	new	-	1,161,220	1,161,220	0.05%
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	339,051	339,051	0.01%
2023-03-10	BAILLIE GIFFORD & CO	reduced	-11.8	-38,153,300	71,529,700	0.07%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-13.55	-20,004,200	35,448,800	0.04%
2023-03-08	SHEETS SMITH WEALTH MANAGEMENT	new	-	411,220	411,220	0.06%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-3.8	-81,000	197,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	sold off	-100	-	-	-%
2023-02-28	Voya Investment Management LLC	added	7.81	-1,872,040	7,357,960	0.01%

Latest Funds Activity

Are funds buying SWAV calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SWAV

No. of Funds

Shockwave Medical News

Schedule 13G FIlings of Shockwave Medical

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	price t rowe associates inc /md/	2.8%	1,012,393	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Jan 23, 2023	blackrock inc.	12.7%	4,572,659	SC 13G/A
Jan 10, 2023	vanguard group inc	10.22%	3,694,931	SC 13G/A
Jul 08, 2022	blackrock inc.	12.1%	4,313,553	SC 13G
Feb 14, 2022	price t rowe associates inc /md/	8.7%	3,077,252	SC 13G/A
Feb 14, 2022	gilder gagnon howe & co llc	3.9%	1,384,358	SC 13G/A
Feb 03, 2022	blackrock inc.	7.7%	2,716,533	SC 13G/A
Jan 10, 2022	fmr llc	-	0	SC 13G/A
Nov 09, 2021	jpmorgan chase & co	3.4%	1,209,265	SC 13G/A

SWAV Fair Value

Shockwave Medical fair value in different scenarios

The table shows the Fair Value estimates for Shockwave Medical for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	0.03 -99.99%	0.03 -99.99%	0.07 -99.97%	0.11 -99.95%	0.19 -99.91%
Very High Inflation	- -	- -	- -	- -	- -

Historical Shockwave Medical Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Shockwave Medical

View All Filings

Date Filed	Form Type	Document
Mar 28, 2023	4	Insider Trading
Mar 22, 2023	4	Insider Trading
Mar 21, 2023	4	Insider Trading
Mar 21, 2023	4/A	Insider Trading
Mar 14, 2023	4	Insider Trading
Feb 28, 2023	4	Insider Trading
Feb 27, 2023	10-K	Annual Report
Feb 27, 2023	S-8	Employee Benefits Plan
Feb 24, 2023	4	Insider Trading
Feb 23, 2023	4	Insider Trading

Latest Insider Trading transactions for SWAV

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-27	Zacharias Isaac	sold	-862,760	215	-4,000	president, cco
2023-03-20	PUCKETT DAN	sold	-220,814	200	-1,100	chief financial officer
2023-03-20	WATKINS FRANK T	acquired	6,588	2.196	3,000	-
2023-03-20	PUCKETT DAN	acquired	18,700	17.00	1,100	chief financial officer
2023-03-20	WATKINS FRANK T	sold	-602,015	200	-3,000	-
2023-03-10	Zacharias Isaac	sold (taxes)	-102,790	190	-541	president, cco
2023-02-27	Zacharias Isaac	sold	-754,040	188	-4,000	president, cco
2023-02-23	Sainz Maria	sold	-139,732	193	-724	-
2023-02-22	Phung Trinh	sold	-120,378	188	-640	vp, finance
2023-02-22	PUCKETT DAN	sold	-700,244	191	-3,653	chief financial officer

About Shockwave Medical

Douglas E. Godshall

www.shockwavemedical.com

660

ShockWave Medical, Inc., a medical device company, engages in developing and commercializing intravascular lithotripsy technology for the treatment of calcified plaque in patients with peripheral vascular, coronary vascular, and heart valve diseases worldwide. The company offers M5 catheters for treating above-the-knee peripheral artery disease (PAD); C2 catheters for treating coronary artery disease; and S4 catheters for treating below-the-knee PAD. It serves interventional cardiologists, vascular surgeons, and interventional radiologists through sales representatives and sales managers, and distributors. The company was incorporated in 2009 and is headquartered in Santa Clara, California.

SWAV Income Statement

2022-12-31

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Product revenue	$ 489,733,000	$ 237,146,000	$ 67,789,000
Cost of revenue:
Cost of product revenue	64,996,000	41,438,000	20,991,000
Gross profit	424,737,000	195,708,000	46,798,000
Operating expenses:
Research and development	81,679,000	50,544,000	36,926,000
Sales and marketing	161,995,000	111,288,000	51,672,000
General and administrative	56,929,000	34,747,000	23,863,000
Total operating expenses	300,603,000	196,579,000	112,461,000
Income (loss) from operations	124,134,000	(871,000)	(65,663,000)
Loss from equity method investment	(2,475,000)	(6,286,000)	0
Interest expense	(1,886,000)	(1,096,000)	(1,212,000)
Other income (expense), net	1,055,000	(582,000)	1,256,000
Net income (loss) before taxes	120,828,000	(8,835,000)	(65,619,000)
Income tax (benefit) provision	(95,168,000)	301,000	80,000
Net income (loss)	215,996,000	(9,136,000)	(65,699,000)
Other comprehensive income (loss)
Unrealized loss on available-for-sale securities, net of tax	(659,000)	(211,000)	(5,000)
Adjustment for net gain realized and included in other income, net	(6,000)	0	(21,000)
Total comprehensive income (loss)	$ 215,331,000	$ (9,347,000)	$ (65,725,000)
Net income (loss) per share
Basic (USD per share)	$ 6.02	$ (0.26)	$ (1.99)
Diluted (USD per share)	$ 5.70	$ (0.26)	$ (1.99)
Denominator:
Basic (in shares)	35,900,738	35,098,130	33,088,095
Diluted (in shares)	37,881,590	35,098,130	33,088,095
Revenue, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]
Cost, Product and Service [Extensible Enumeration]	Product [Member]	Product [Member]	Product [Member]

SWAV Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 156,586	$ 89,209
Short-term investments	147,907	111,772
Accounts receivable, net	71,366	37,435
Inventory	75,112	42,978
Prepaid expenses and other current assets	8,292	4,508
Total current assets	459,263	285,902
Operating lease right-of-use assets	32,365	27,496
Property and equipment, net	48,152	24,361
Equity method investment	3,512	5,987
Deferred tax assets	97,568	0
Other assets	5,229	1,936
TOTAL ASSETS	646,089	345,682
CURRENT LIABILITIES:
Accounts payable	6,721	3,520
Debt, current portion	0	5,500
Accrued liabilities	55,375	40,870
Lease liability, current portion	1,278	1,738
Total current liabilities	63,374	51,628
Lease liability, noncurrent portion	34,928	28,321
Debt, noncurrent portion	24,198	11,630
Related party contract liability, noncurrent portion	12,273	12,273
TOTAL LIABILITIES	134,773	103,852
Commitments and contingencies (Note 6)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.001 par value per share; 5,000,000 shares authorized; No shares issued and outstanding as of December 31, 2022 and 2021	0	0
Common stock, $0.001 par value per share; 281,274,838 shares authorized; 36,235,546 and 35,444,472 issued and outstanding as of December 31, 2022 and 2021	36	35
Additional paid-in capital	548,960	494,806
Accumulated other comprehensive loss	(867)	(202)
Accumulated deficit	(36,813)	(252,809)
TOTAL STOCKHOLDERS’ EQUITY	511,316	241,830
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 646,089	$ 345,682