SWAV

ShockWave Medical Inc

Healthcare


Presented:12/19/2023
Price:$191.78
Cap:$7.08B
Current Price:$334.75
Cap:$12.57B

Presented

Date12/19/2023
Price$191.78
Market Cap$7.08B
Ent Value$7.45B
P/E Ratio29.92x
Book Value$16.30
Div Yield0%
Shares O/S36.90M
Ave Daily Vol610,345
Short Int4.75%

Current

Price$334.75
Market Cap$12.57B
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 firm offers M5 catheters for treating above-the-knee peripheral artery disease, C2 catheters for treating coronary artery disease, and S4 catheters or treating below-the-knee peripheral artery disease. The company was founded by Daniel Hawkins, John M. Adams, and Todd J. Brinton in 2009 and is headquartered in Santa Clara, CA.

Publicly traded companies mentioned herein: Boston Scientific (BSX), CVS Health Corp (CVS), Shockwave (SWAV)

Highlights

The presenter is long shares of Shockwave Medical (SWAV), which is relatively cheap and looks poised to recover from recent weakness spurred by Aetna denials and a takeover bid that didn’t materialize. With the stock trading at 8x sales, 27x GAAP EBITDA, and 35x his 2024 EPS, it seems cheap given his 40% growth outlook (vs. consensus in the mid-20%s). The presenter sees the potential for the stock to rerate if the company benefits from the market's continued appetite for its innovative IVL technology and overcomes near-term challenges (i.e., Aetna denials).

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Idea Discussion

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