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Shockwave Medical (SWAV) Advances While Market Declines: Some Information for Investors
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Shockwave Medical (SWAV - Free Report) closed the latest trading day at $329, indicating a +0.45% change from the previous session's end. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Shares of the medical device compnay witnessed a gain of 14.81% over the previous month, beating the performance of the Medical sector with its loss of 6.4% and the S&P 500's loss of 2.57%.
Investors will be eagerly watching for the performance of Shockwave Medical in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.04, showcasing a 0.97% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $207.09 million, up 28.57% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.94 per share and a revenue of $921.48 million, indicating changes of +28.31% and +26.19%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Shockwave Medical. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.03% higher. At present, Shockwave Medical boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Shockwave Medical currently has a Forward P/E ratio of 66.3. This denotes a premium relative to the industry's average Forward P/E of 24.74.
It's also important to note that SWAV currently trades at a PEG ratio of 2.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.28 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Shockwave Medical (SWAV) Advances While Market Declines: Some Information for Investors
Shockwave Medical (SWAV - Free Report) closed the latest trading day at $329, indicating a +0.45% change from the previous session's end. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Shares of the medical device compnay witnessed a gain of 14.81% over the previous month, beating the performance of the Medical sector with its loss of 6.4% and the S&P 500's loss of 2.57%.
Investors will be eagerly watching for the performance of Shockwave Medical in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.04, showcasing a 0.97% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $207.09 million, up 28.57% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.94 per share and a revenue of $921.48 million, indicating changes of +28.31% and +26.19%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Shockwave Medical. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.03% higher. At present, Shockwave Medical boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Shockwave Medical currently has a Forward P/E ratio of 66.3. This denotes a premium relative to the industry's average Forward P/E of 24.74.
It's also important to note that SWAV currently trades at a PEG ratio of 2.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.28 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.