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Shockwave Medical (SWAV) Gains As Market Dips: What You Should Know

In the latest trading session, Shockwave Medical (SWAV) closed at $254.79, marking a +1.08% move from the previous day. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.11%, while the tech-heavy Nasdaq lost 0.06%.

Prior to today's trading, shares of the medical device compnay had lost 17.2% over the past month. This has lagged the Medical sector's loss of 6.55% and the S&P 500's loss of 10.4% in that time.

Shockwave Medical will be looking to display strength as it nears its next earnings release. In that report, analysts expect Shockwave Medical to post earnings of $0.68 per share. This would mark year-over-year growth of 1260%. Meanwhile, our latest consensus estimate is calling for revenue of $125.85 million, up 93.14% from the prior-year quarter.

SWAV's full-year Zacks Consensus Estimates are calling for earnings of $2.57 per share and revenue of $479.91 million. These results would represent year-over-year changes of +1088.46% and +102.37%, respectively.

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Investors should also note any recent changes to analyst estimates for Shockwave Medical. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Shockwave Medical is currently a Zacks Rank #1 (Strong Buy).

In terms of valuation, Shockwave Medical is currently trading at a Forward P/E ratio of 98.16. For comparison, its industry has an average Forward P/E of 26.29, which means Shockwave Medical is trading at a premium to the group.

The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report
 
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