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Shockwave Medical (SWAV) Stock Moves -0.38%: What You Should Know
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Shockwave Medical (SWAV - Free Report) closed at $292.05 in the latest trading session, marking a -0.38% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the medical device compnay had gained 5.09% over the past month. This has lagged the Medical sector's gain of 8.62% and the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Shockwave Medical as it approaches its next earnings report date. This is expected to be November 7, 2022. The company is expected to report EPS of $0.68, up 1260% from the prior-year quarter. 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.
Any recent changes to analyst estimates for Shockwave Medical should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Shockwave Medical is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Shockwave Medical is holding a Forward P/E ratio of 114.15. This valuation marks a premium compared to its industry's average Forward P/E of 26.63.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 135, putting it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SWAV in the coming trading sessions, be sure to utilize Zacks.com.
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Shockwave Medical (SWAV) Stock Moves -0.38%: What You Should Know
Shockwave Medical (SWAV - Free Report) closed at $292.05 in the latest trading session, marking a -0.38% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.41%. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the medical device compnay had gained 5.09% over the past month. This has lagged the Medical sector's gain of 8.62% and the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Shockwave Medical as it approaches its next earnings report date. This is expected to be November 7, 2022. The company is expected to report EPS of $0.68, up 1260% from the prior-year quarter. 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.
Any recent changes to analyst estimates for Shockwave Medical should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Shockwave Medical is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Shockwave Medical is holding a Forward P/E ratio of 114.15. This valuation marks a premium compared to its industry's average Forward P/E of 26.63.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 135, putting it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow SWAV in the coming trading sessions, be sure to utilize Zacks.com.