Shockwave Medical , Inc. (NASDAQ:SWAV) director Laura Francis sold shares worth approximately $450,000, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 26, 2024, involved the sale of 1,500 shares at a price of $300 per share.
The filing also revealed that on the same date, Francis engaged in a series of transactions involving both acquisitions and disposals of company stock. Notably, she acquired 1,500 shares through the exercise of options at a price of $6.588 per share, totaling an investment of $9,882.
Additionally, the report indicated transfers of stock as gifts to a family trust, which did not involve any monetary transaction. These transfers are part of a broader estate planning strategy and are common practices among executives and directors.
Investors often monitor the buying and selling activities of company insiders like Francis for insights into their perspective on the company's future prospects. While the reasons behind these transactions can vary widely, they are required to be disclosed publicly to ensure transparency in the markets.
Shockwave Medical, Inc. specializes in surgical and medical instruments and apparatus, a sector that often sees significant insider activity due to the high stakes and rapid innovation inherent in the industry.
The reported transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which allows insiders to establish pre-determined trading plans for buying or selling stocks at a time when they are not in possession of material non-public information. This helps to avoid any potential allegations of insider trading.
This latest filing provides a snapshot of Francis's recent stock transactions in Shockwave Medical and contributes to the ongoing narrative of insider trading activities within the company.
InvestingPro Insights
As Shockwave Medical, Inc. (NASDAQ:SWAV) continues to navigate the dynamic medical apparatus sector, recent insider trading by director Laura Francis has brought the company into the spotlight. To provide a broader perspective on Shockwave Medical's financial health and market performance, here are some key metrics and tips from InvestingPro.
InvestingPro Data reveals that Shockwave Medical has an impressive Market Cap of approximately $12.06 billion USD, which reflects the company's significant presence in the industry. Their Gross Profit Margin over the last twelve months as of Q4 2023 stands at a robust 86.94%, indicating strong operational efficiency. Moreover, the company's Revenue Growth for the same period was an outstanding 49.11%, showcasing its ability to expand in a competitive market.
An InvestingPro Tip highlights that Shockwave Medical's stock has experienced a significant return over the last week, with a 1 Week Price Total Return of 13.09%. This performance is part of a larger trend, with a 6 Month Price Total Return of 57.03%, underscoring the stock's positive trajectory over recent months. Additionally, the company's stock is trading near its 52-week high, at 98.03% of the peak price, which could indicate investor confidence in its future prospects.
For investors seeking more comprehensive analysis and insights, there are 19 additional InvestingPro Tips available. These tips can further guide investment decisions and provide a deeper understanding of Shockwave Medical's market position and potential. To access these insights, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the next earnings date approaching on May 6, 2024, investors and analysts will be closely watching for Shockwave Medical's performance updates, which could influence the company's stock valuation and insider trading activities like those of director Laura Francis.
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