Shockwave Medical Intrinsic Value – SHOCKWAVE MEDICAL Reports Q2 2023 Financial Performance
August 20, 2023
🌥️Earnings Overview
For the quarter ending June 30, 2023, SHOCKWAVE MEDICAL ($NASDAQ:SWAV) reported total revenue of USD 180.2 million, a 49.2% increase from the same period in the previous year. Net income also rose by 12.9%, totaling USD 28.9 million.
Share Price
On Monday, SHOCKWAVE MEDICAL reported their Q2 2023 financial performance, with their stock opening at $250.0 and closing at $245.3, a decrease of 2.5% from the previous day’s closing price of 251.6. The stock market’s reaction to SHOCKWAVE MEDICAL’s financial performance was mixed, as the market corrected the initial opening price of $250.0 to close 2.5% lower than the previous day’s closing price. This suggests investors are taking a more conservative approach to evaluating the company’s performance in the long term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Shockwave Medical. More…
| Total Revenues | Net Income | Net Margin |
| 616.59 | 243.9 | 39.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Shockwave Medical. More…
| Operations | Investing | Financing |
| 160.62 | -118.14 | -2.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Shockwave Medical. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 786.6 | 169.69 | 16.8 |
Key Ratios Snapshot
Some of the financial key ratios for Shockwave Medical are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 129.3% | – | 25.3% |
| FCF Margin | ROE | ROA |
| 20.5% | 16.4% | 12.4% |
Analysis – Shockwave Medical Intrinsic Value
We at GoodWhale conducted an analysis of SHOCKWAVE MEDICAL‘s financials and have determined that the fair value of SHOCKWAVE MEDICAL share is around $468.1, as calculated by our proprietary Valuation Line. Currently, SHOCKWAVE MEDICAL stock is trading at $245.3, which represents a 47.6% discount to its fair value. This means that the stock is undervalued and investors may be able to benefit from buying it at its current price. More…
Peers
The medical device industry is an ever-evolving landscape, with many companies competing to develop the most impactful and innovative solutions. One of the major players in this field is ShockWave Medical Inc, which has recently been engaged in a fierce competition with other notable players such as Inspire Medical Systems Inc, Inari Medical Inc, and INVO Bioscience Inc. Each of these companies has their own unique approach to developing cutting-edge medical technology, and their competition is driving innovation and progress in the industry.
– Inspire Medical Systems Inc ($NYSE:INSP)
Inspire Medical Systems Inc is a medical device company that specializes in the development of minimally invasive solutions for treating obstructive sleep apnea (OSA). The company has a market capitalization of 6.71 billion US dollars as of 2022, making it one of the larger companies in its sector. The company’s Return on Equity (ROE) is -8.55%, which suggests that the company is not generating a positive return on its shareholders’ investments. This is likely due to the high costs associated with R&D and clinical trials associated with developing new products and treatments. Despite this, Inspire Medical Systems Inc remains a leader in its sector, having developed innovative solutions that are helping to improve the lives of patients around the world.
– Inari Medical Inc ($NASDAQ:NARI)
Inari Medical Inc is a medical technology company that develops innovative medical devices for treating vascular diseases. The company has a market cap of 3.67 billion USD as of 2022, indicating a strong market presence and demonstrating that investors are confident in the company’s long-term prospects. Additionally, Inari Medical Inc has a return on equity of -2.93%, which suggests that the company has not been able to generate profits from its investments. This could be due to the company’s investments into research and development, as well as its expensive start-up costs.
– INVO Bioscience Inc ($NASDAQ:INVO)
INVO Bioscience Inc is a medical device company that focuses on developing and commercializing innovative products for the treatment of infertility. The company has a market cap of 7.3M as of 2022, indicating that its current market value is relatively small compared to its competitors. Its Return on Equity of -210.86% shows that the company is not performing well, as it has been burning through cash and not generating sufficient returns on its investments.
Summary
Investors in Shockwave Medical can be reassured of its strong financial performance, with total revenue for the second quarter of 2023 increasing by 49.2% year-over-year, and net income reaching USD 28.9 million. This steady growth indicates the company is well-positioned to meet its long-term objectives and drive further value for shareholders. Share prices have been responding positively to the news, increasing throughout the quarter, and the outlook for the rest of 2023 looks promising.
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