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Shockwave Medical Inc
NASDAQ:SWAV

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Shockwave Medical Inc Logo
Shockwave Medical Inc
NASDAQ:SWAV
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Price: 329.48 USD 2.13% Market Closed
Updated: Mar 28, 2024

Intrinsic Value

Shockwave Medical, Inc. operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. [ Read More ]

The intrinsic value of one SWAV stock under the Base Case scenario is 150.18 USD. Compared to the current market price of 329.48 USD, Shockwave Medical Inc is Overvalued by 54%.

Key Points:
SWAV Intrinsic Value
Base Case
150.18 USD
Overvaluation 54%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

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Shockwave Medical Inc

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Fundamental Analysis

Solid Growth and Expansion in 2023, Positive Outlook for 2024
2023-Q4 Earnings Call

Solid Growth and Expansion in 2023, Positive Outlook for 2024

In 2023, the company achieved record results, with strong performance especially in the U.S. coronary business, which saw a 40% revenue increase year-over-year, boosted by the well-received C2+ launch. Peripheral revenue in the U.S. rose by 19%, showing stabilization despite prior authorization challenges. International business soared as well, with a 67% revenue uptick. Major gains were seen in Germany, where sales doubled due to improved reimbursement conditions, and in Japan and major European markets. Overall, gross margins reached 88% in Q4 2023. Operating expenses surged by 60%, mainly due to sales force expansion and R&D. Net income was $44.3 million, with basic and diluted earnings per share at $1.20 and $1.16, respectively. Adjusted EBITDA increased by 20% quarterly and 40% annually. For 2024, the company plans continued investments and projects an operating margin expansion of up to 100 basis points over 2023, ending the year with $990.6 million in cash and equivalents.

Financials

Balance Sheet Decomposition
Shockwave Medical Inc

Current Assets 1.2B
Cash & Short-Term Investments 990.6m
Receivables 114.6m
Other Current Assets 120.2m
Non-Current Assets 341.3m
Long-Term Investments 1.6m
PP&E 98.6m
Intangibles 132.4m
Other Non-Current Assets 108.6m
Current Liabilities 104.2m
Accounts Payable 8.9m
Accrued Liabilities 83m
Other Current Liabilities 12.3m
Non-Current Liabilities 793.7m
Long-Term Debt 731.9m
Other Non-Current Liabilities 61.8m
Efficiency

Earnings Waterfall
Shockwave Medical Inc

Revenue
730.2m USD
Cost of Revenue
-95.4m USD
Gross Profit
634.8m USD
Operating Expenses
-475.7m USD
Operating Income
159.1m USD
Other Expenses
-11.8m USD
Net Income
147.3m USD

Free Cash Flow Analysis
Shockwave Medical Inc

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Fundamental Scores

SWAV Profitability Score
Profitability Due Diligence

Shockwave Medical Inc's profitability score is 61/100. The higher the profitability score, the more profitable the company is.

61/100
Profitability
Score

Shockwave Medical Inc's profitability score is 61/100. The higher the profitability score, the more profitable the company is.

SWAV Solvency Score
Solvency Due Diligence

Shockwave Medical Inc's solvency score is 82/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
High Altman Z-Score
Short-Term Solvency
Long-Term Solvency
82/100
Solvency
Score

Shockwave Medical Inc's solvency score is 82/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

SWAV Price Targets Summary
Shockwave Medical Inc

Wall Street analysts forecast SWAV stock price to drop over the next 12 months.

According to Wall Street analysts, the average 1-year price target for SWAV is 262.7 USD with a low forecast of 166.65 USD and a high forecast of 304.5 USD.

Lowest
Price Target
166.65 USD
49% Downside
Average
Price Target
262.7 USD
20% Downside
Highest
Price Target
304.5 USD
8% Downside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

SWAV Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

SWAV Price
Shockwave Medical Inc

1M 1M
+25%
6M 6M
+60%
1Y 1Y
+53%
3Y 3Y
+220%
5Y 5Y
+926%
10Y 10Y
+980%
Annual Price Range
329.48
52w Low
160.99
52w High
329.48
Price Metrics
Average Annual Return 64.17%
Standard Deviation of Annual Returns 57.21%
Max Drawdown -65%
Shares Statistics
Market Capitalization 12.2B USD
Shares Outstanding 36 900 000
Percentage of Shares Shorted 5.9%

SWAV Return Decomposition
Main factors of price return

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SWAV News

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Shockwave Medical Inc

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Shockwave Medical Inc

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Company Profile

Shockwave Medical Inc Logo
Shockwave Medical Inc

Country

United States of America

Industry

Health Care

Market Cap

12.2B USD

Dividend Yield

0%

Description

Shockwave Medical, Inc. operates as a medical device company, which focuses on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. The company is headquartered in Santa Clara, California and currently employs 657 full-time employees. The company went IPO on 2019-03-07. The firm is engaged in medical device treatment of atherosclerotic cardiovascular disease (atherosclerosis) through its differentiated local delivery of sonic pressure waves for the treatment of calcified plaque, which refer to as intravascular lithotripsy (IVL). Its products for the treatment of peripheral artery disease (PAD) includes Shockwave M5 IVL catheter (M5 catheter) and Shockwave S4 IVL catheter (S4 catheter). Its product for the treatment of coronary artery disease (CAD) is Shockwave C2 IVL catheter (C2 catheter). M5 catheter is a five-emitter catheter for use in its IVL System in medium vessels for the treatment of above-the-knee PAD. S4 catheter is a four-emitter catheter for use in its IVL System in small vessels for the treatment of below-the-knee PAD. C2 catheter is a two-emitter catheter for use in its IVL System for the treatment of CAD.

Contact

CALIFORNIA
Santa Clara
5403 Betsy Ross Dr
+15102794262.0
http://shockwavemedical.com/

IPO

2019-03-07

Employees

657

Officers

President, CEO & Director
Mr. Douglas E. Godshall M.B.A.
Chief Commercial Officer
Mr. Isaac Zacharias
Founder and Senior Advisor
Mr. Daniel Hawkins
Co-Founder and Technical Advisor
Mr. John M. Adams
Chief Financial Officer
Ms. Renee M. Gaeta
Senior Vice President of Global Operations
Mr. Luis Morales
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Chief Accounting Officer, Principal Accounting Officer & VP of Finance
Ms. Trinh Phung
Vice President of Investor Relations
Ms. Debbie Kaster
General Counsel & Secretary
Mr. Hajime Tada J.D.
Senior Vice President of Marketing & Market Access
Mr. Robert Fletcher
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See Also

Discover More
What is the Intrinsic Value of one SWAV stock?

The intrinsic value of one SWAV stock under the Base Case scenario is 150.18 USD.

Is SWAV stock undervalued or overvalued?

Compared to the current market price of 329.48 USD, Shockwave Medical Inc is Overvalued by 54%.