If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Shockwave Medical (SWAV) . This company, which is in the Zacks Medical - Instruments industry, shows potential for another earnings beat.When looking at the last two reports, this medical device compnay has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 19.83%, on average, in the ...

Shockwave Medical, Inc. (SWAV) recently announced that the researchers provided interim long-term follow-up results of up to three years, along with six-month data from the entire population of the REDUCER-I investigation. These results support the favorable, "real-world" results of Shockwave Reducer, a cutting-edge treatment for refractory angina.Results of the study were presented at the 73rd Annual Scientific Sessions of the American College of Cardiology in Atlanta, GA.Price PerformanceIn the past six m ...

Shares of Shockwave Medical (SWAV 0.94%) charged sharply higher this week, soaring as much as 18%, according to data supplied by S&P Global Market Intelligence. As of market close on Thursday, the stock was still up 15.9%.The springboard that sent the medical device specialist higher was rumors of a proposed buyout and bullish coverage from a Wall Street analyst.At the heart of the matterHealthcare giant Johnson & Johnson (JNJ 0.15%) has made overtures to acquire Shockwave Medical, according to a report tha ...

ShockWave Medical, Inc. (SWAV) is well poised for growth, backed by its research and development (R&D) efforts and focus on clinical studies.Shares of this currently Zacks Rank #2 (Buy) company have risen 37.3% compared with the industry’s 10.3% growth in the past year. The S&P 500 Index has soared 26.4% in the same time frame.With a market capitalization of $9.85 billion, this medical device company is committed to developing and commercializing products that can change the way calcified cardiovascular dis ...

Cash and Investments - Cash, cash equivalents, and short-term investments totaled $990.6 million as of December 31, 2023, primarily in bank deposits, money market funds, U.S. Treasury securities, and commercial paper[523] - Cash and cash equivalents more than doubled to $328.4 million in 2023 from $156.6 million in 2022[546] - Cash, cash equivalents, and restricted cash at the end of 2023 totaled $329.8 million, compared to $158.3 million at the end of 2022[555] - The company had $990.6 million in cash, cash equivalents, and short-term investments as of December 31, 2023[559] - Cash equivalents and short-term investments totaled $814.7 million as of December 31, 2023, with $152.6 million classified as cash equivalents and $662.1 million as short-term investments[626] - The company's cash equivalents and marketable securities as of December 31, 2023, included $43.3 million in money market funds and $575.2 million in U.S. treasury securities[622] Foreign Exchange and Currency Risk - Foreign exchange losses for the year ended December 31, 2023, amounted to $1.8 million, driven by Euro-denominated accounts receivable and the strengthening of the U.S. Dollar[526] - A hypothetical 10% change in exchange rates would result in a $7.6 million change in fair value of foreign currency cash and accounts receivable as of December 31, 2023[526] - Approximately 9% of revenue for the year ended December 31, 2023, was denominated in Euros, compared to 8% in 2022[526] - The company may enter into foreign currency hedging contracts in the future as international operations expand, particularly in Costa Rica[526] - Net foreign currency transaction losses were $1.8 million in 2023, compared to $1.1 million in 2022 and $0.8 million in 2021[597] Revenue and Financial Performance - Revenue for the year ended December 31, 2023, was $730.2 million, recognized when customers obtain control of goods based on contractual or standard shipping terms[538] - Product revenue grew to $730.2 million in 2023, up 49.1% from $489.7 million in 2022[549] - Net income for 2023 was $147.3 million, a decrease of 31.8% compared to $216.0 million in 2022[549] - Gross profit margin improved to 86.9% in 2023 from 86.7% in 2022[549] - Net income for 2023 was $147.3 million, a decrease from $216.0 million in 2022[555] - Net cash provided by operating activities in 2023 was $196.1 million, up from $117.7 million in 2022[555] - Product revenue for 2023 was $730.2 million, a significant increase from $489.7 million in 2022 and $237.1 million in 2021[703] - Coronary product revenue for 2023 was $528.8 million, up from $353.9 million in 2022[703] - United States accounted for $581.5 million of product revenue in 2023, compared to $407.4 million in 2022[704] - Net income for 2023 was $147.28 million, a decrease from $215.99 million in 2022 and a significant improvement from a net loss of $9.14 million in 2021[713] Acquisitions and Business Combinations - The company completed the acquisition of Neovasc Inc. for $121.4 million in 2023, with $61.2 million allocated to developed technology and $31.4 million to in-process research and development[541] - The company spent $94.4 million on business combinations in 2023, compared to none in 2022[555] - The company recorded a preliminary fair value of $9.3 million for the Neovasc contingent consideration related to the acquisition of Neovasc Inc. on April 11, 2023[623] - The company acquired Neovasc for a total purchase price of $121.4 million, including $112.1 million in cash and $9.3 million in contingent consideration[630][631] - The contingent consideration liability for Neovasc includes a potential maximum payment of $47.0 million based on FDA approval milestones[632] - Goodwill from the Neovasc acquisition was $39.6 million, primarily attributed to anticipated synergies and assembled workforce[637] - Intangible assets acquired from Neovasc totaled $95.5 million, including $61.2 million for developed technology and $31.4 million for in-process research and development[637] - Amortization expense for acquired intangible assets was $2.6 million for the year ended December 31, 2023[643] - The company recorded deferred tax liabilities of $11.0 million related to intangible assets from the Neovasc acquisition[638] - Unaudited pro forma net revenue for 2023, assuming the Neovasc acquisition occurred on January 1, 2022, was $731.7 million[640] - Estimated future amortization expense of intangible assets for 2024 is $3.64 million, with a total estimated future amortization expense of $61.46 million through 2028 and thereafter[644] Research and Development - Research and development expenses increased by 78.3% to $145.6 million in 2023 from $81.7 million in 2022[549] - Research and development costs are expensed as incurred, with no significant differences between accrued costs and actual costs since the company's inception[586][588] - Research and development credit carryforwards as of December 31, 2023, were $14.6 million for both federal and California tax purposes[695] Debt and Financing - The revolving credit facility interest rate was 7.3% as of August 29, 2023, with a maturity date of October 19, 2027[525] - Convertible debt, noncurrent portion was $731.9 million in 2023, compared to $0 in 2022[546] - Proceeds from convertible debt financing in 2023 were $730.5 million[555] - The company entered into a Credit Agreement in October 2022, providing a revolving credit facility of $175.0 million, with an interest rate of 7.3% as of August 29, 2023[661][664] - The company issued $750.0 million in aggregate principal amount of 1.0% convertible senior notes due 2028, with an option to purchase an additional $100.0 million[666] - The initial conversion price of the Notes is approximately $289.06 per share, representing a 30% premium over the last reported sale price of $222.35 per share on August 10, 2023[669] - The net carrying amount of the Notes as of December 31, 2023, was $731.9 million, with an effective interest rate of 1.5%[672] - The Company used $96.4 million of the proceeds from the Notes offering to pay for Capped Call Transactions, which were recorded as a reduction to additional paid-in capital[673][674] - The company's convertible debt issuance costs are treated as a debt discount and amortized into interest expense over the term of the instruments[617] Stock-Based Compensation - Stock-based compensation expense increased to $73.2 million in 2023 from $44.9 million in 2022[555] - Total stock-based compensation for the year ended December 31, 2023, was $73.2 million, with $56.5 million related to vested RSUs[675][682] - As of December 31, 2023, there were 3,516,750 shares of common stock available for issuance under the 2019 Equity Incentive Plan[677] - The total grant date fair value of options vested was $0.1 million for the year ended December 31, 2023[678] - The Company recorded $3.3 million of stock-based compensation expense related to the ESPP for the year ended December 31, 2023[688] - The company uses the Black-Scholes option-pricing model to measure the fair value of stock options for share-based compensation[589] Taxes - The total income before taxes for the year ended December 31, 2023, was $120.8 million, with domestic income contributing $119.9 million[690] - Total current tax provision for 2023 was $12.3 million, compared to $2.1 million in 2022 and $301 thousand in 2021[691] - Total deferred tax (benefit) provision for 2023 was $14.7 million, compared to a benefit of $97.3 million in 2022[691] - Total net deferred tax assets as of December 31, 2023, were $95.6 million, slightly down from $97.6 million in 2022[691] - Valuation allowance increased by $44.5 million in 2023, primarily due to the acquisition of Neovasc[693] - Net operating loss (NOL) carryforwards as of December 31, 2023, were $103.1 million for federal, $45.6 million for California, and $126.6 million for foreign entities[694] Assets and Liabilities - Total assets increased to $1,566.6 million in 2023 from $646.1 million in 2022, representing a 142.5% growth[546] - Total current assets surged to $1,225.3 million in 2023, a 167.0% increase from $459.3 million in 2022[546] - Total stockholders' equity grew to $668.7 million in 2023, up 30.8% from $511.3 million in 2022[546] - Accounts receivable increased by $41.5 million in 2023, compared to $33.3 million in 2022[555] - The company's allowance for doubtful accounts increased to $2.179 million in 2023, up from $710 thousand in 2022, reflecting higher credit risk assessments[575] - Total inventory increased from $75.11 million in 2022 to $107.59 million in 2023, with finished goods accounting for $65.42 million[646] - Property and equipment, net increased from $48.15 million in 2022 to $68.92 million in 2023, with depreciation and amortization expense of $7.7 million for 2023[647] - Total accrued liabilities increased from $55.38 million in 2022 to $91.70 million in 2023, with employee compensation being the largest component at $49.71 million[649] - The company's long-lived assets in Costa Rica and Japan represent 32% and 15% of its consolidated net property, plant, and equipment, respectively[605] Fair Value Measurements - The fair value of the company's convertible debt as of December 31, 2023, was $730.5 million, classified as Level 2 in the fair value hierarchy[625] - The company's total financial assets measured at fair value on a recurring basis as of December 31, 2023, were $814.7 million, with $727.8 million in Level 1 and $86.9 million in Level 2[622] - The company's total financial liabilities measured at fair value on a recurring basis as of December 31, 2023, were $739.8 million, with $730.5 million in Level 2 and $9.3 million in Level 3[622] - The company's contingent consideration liabilities related to business combinations were recorded at $9.3 million as of December 31, 2023[623] Leases and Operating Costs - Operating lease costs are recognized on a straight-line basis over the lease term, with variable non-lease components expensed as incurred[592][593] - Operating lease cost for 2023 was $5.11 million, with total lease cost amounting to $6.35 million[654] Earnings Per Share - Basic net income per share decreased to $4.01 in 2023 from $6.02 in 2022[549] - Basic net income per share for 2023 was $4.01, down from $6.02 in 2022, while diluted net income per share was $3.85, down from $5.70 in 2022[713] - Weighted average number of common shares outstanding - diluted increased to 38,206,269 in 2023 from 37,881,590 in 2022[713] - Total potential shares excluded from diluted net income per share calculation were 439,135 in 2023, compared to 23,659 in 2022 and 2,691,696 in 2021[713] - The company's convertible debt has no impact on diluted net income per common share unless the average price of the common stock exceeds the conversion price[712] Other Financial Metrics - The company recognized $5.3 million in expenses for its defined contribution retirement savings plan in 2023, up from $3.7 million in 2022[595] - The company recognized $5,000 in realized gains on cash equivalents and short-term investments for the year ended December 31, 2023[628] - The company's loss from equity method investments was $1.9 million in 2023, down from $2.5 million in 2022 and $6.3 million in 2021[708] - The company did not incur any goodwill impairment losses during the year ended December 31, 2023[611] - The company did not incur any impairment losses on indefinite-lived intangible assets during the year ended December 31, 2023[613] - The company did not incur any impairment losses on amortizable intangible assets during the year ended December 31, 2023[614] - The company capitalizes internal-use software implementation costs and amortizes them over the estimated service term[607] - No license revenues were recognized for the years ended December 31, 2023, 2022, and 2021[585] - Inventory is valued at the lower of standard cost or net realizable value, with provisions for slow-moving or obsolete inventory recorded as needed[576] - The company completed the first phase of a new manufacturing facility in Costa Rica and is constructing the second phase as of December 31, 2023[648] - No single customer accounted for more than 10% of the company's revenue in 2023, 2022, or 2021[572]

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

Shockwave Medical, Inc. (SWAV) reported fourth-quarter 2023 earnings per share (EPS) of $1.16, which beat the Zacks Consensus Estimate of 92 cents by 26.1%. The company reported an EPS of $3.71 in the year-ago quarter.Revenue DetailsRevenues totaled $203 million, up a massive 40.9% from the prior-year period’s level. The top line also beat the Zacks Consensus Estimate by 1.5%. The growth was primarily driven by an increase in the purchase volume of products, both in the United States and abroad.U.S. revenue ...

Shockwave Medical, Inc. (NASDAQ:SWAV) Q4 2023 Earnings Conference Call February 15, 2024 4:30 PM ET Company Participants Debbie Kaster - VP, IR Doug Godshall - President and CEO Isaac Zacharias - President and CCO Renee Gaeta - CFO Robert Fletcher - SVP, Marketing & Market Access Conference Call Participants Adam Maeder - Piper Sandler Bill Plovanic - Canaccord Patrick Wood - Morgan Stanley Travis Steed - Bank of America Larry Biegelsen - Wells Fargo Michael Polark - Wolfe Research Mike Kratky - Leerink Par ...

Shockwave Medical (SWAV) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $3.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.09%. A quarter ago, it was expected that this medical device compnay would post earnings of $0.81 per share when it actually produced earnings of $0.92, delivering a surprise of 13.58%.Over the last four quart ...

SANTA CLARA, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Shockwave Medical, Inc. (NASDAQ:SWAV), a pioneer in the development and commercialization of transformational technologies for the treatment of cardiovascular disease, announced today the appointment of Renee Gaeta as Chief Financial Officer (CFO), effective February 5, 2024. Renee succeeds Dan Puckett, CFO at Shockwave since 2016, who previously announced his decision to retire. "Renee is a highly skilled and accomplished executive with a proven track ...