Company’s sales and profit exceed expectations, driving stock price up
- Shockwave Medical shares rise 13% after 4Q profit, revenue beat
- Stock up 13% to $266.31, largest increase since August 2022
- Revenue rose 41% to $203 million, beating analysts’ forecast
- Profit of $44.3 million, or $1.16 a share, in 4Q
- Shockwave expects revenue growth of 25% to 27% in 2024
Shares of Shockwave Medical surged 13% after the company’s fourth-quarter sales and profit surpassed expectations. The stock reached $266.31, marking its largest increase since August 2022. Shockwave Medical, a Santa Clara-based medical device maker focused on cardiovascular disease, reported a revenue growth of 41% to $203 million, outperforming analysts’ forecast of $199.4 million. The company’s profit for the quarter ended December 31 was $44.3 million, or $1.16 per share, compared to $140.9 million, or $3.71 per share, in the same period last year. Shockwave Medical expects its revenue to grow by 25% to 27% in 2024, with analysts previously anticipating full-year sales of $918.9 million.
Factuality Level: 8
Factuality Justification: The article provides specific information about Shockwave Medical’s sales and profit performance in the fourth quarter, including the percentage increase in stock price and revenue. It also mentions the company’s growth and adoption of its products. The article includes data from the company’s financial report and compares it to analyst expectations. Overall, the article provides factual information without any apparent bias or misleading elements.
Noise Level: 3
Noise Justification: The article provides relevant information about Shockwave Medical’s sales and profit performance in the fourth quarter, including the company’s revenue growth and exceeded profit expectations. It also mentions the factors contributing to the growth, such as product adoption in the U.S. and internationally. The article includes specific figures and forecasts from the company and analysts. However, it lacks in-depth analysis, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Shockwave Medical
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the sales and profit performance of Shockwave Medical, a medical device company. There is no mention of an extreme event in the article.
Public Companies: Shockwave Medical (N/A)
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