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Shockwave Medical's (SWAV) New Launch to Lower IVL Treatment Time

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Shockwave Medical, Inc. SWAV recently commercially launched the Shockwave M5+ peripheral intravascular lithotripsy (“IVL”) catheter. Commercial availability of the product in Europe and the United States follows the receipt of both CE Mark and FDA clearance.

The Shockwave M5+ catheter was in limited launch until now. The catheter has been particularly designed to reduce IVL treatment time, offer alternative access options and expand IVL therapy to patients with larger vessel sizes.

The latest launch is expected to aid Shockwave to significantly expand its global footprint in the Peripheral Artery Disease (“PAD”) treatment space and solidify its position worldwide.

Significance of the Launch

Per a medical expert, Shockwave’s latest peripheral catheter is expected to provide notable improvements, thereby enabling efficient and effective treatment for some of the most difficult-to-treat patients, including some of those who previously could not have been treated with IVL. Additionally, the new Shockwave catheter is suitably sized for larger vessels and has been enhanced to expand options for enabling vessel access while decreasing the time required to perform IVL in the procedure.

Per management, the latest global rollout of Shockwave M5+ (following a successful limited launch) is expected to provide customers with a new tool to advance treatment options, with the consistent reliability and simplicity of Shockwave IVL.

Industry Prospects

Per a report by Research and Markets published on Business Wire, the global PAD market was estimated to be over $4.53 billion in 2019 and is anticipated to reach $8.78 billion by 2030 at a CAGR of 6.2%. Factors like rapid growth in the elderly population and subsequent increase in the prevalence of PAD cases, along with a rising number of people suffering from diabetes and high blood pressure, are likely to drive the market.

Given the market potential, the latest global commercial launch is expected to provide a significant boost to Shockwave’s business globally.

Recent Developments

Last month, Shockwave received the regulatory approval in Japan for the Shockwave C2 Coronary IVL Catheter as it demonstrated the ability to safely and effectively treat severely calcified coronary lesions in a study on Japanese patients.

In February, the company reported its fourth-quarter 2021 financial results, wherein it recorded robust year-over-year revenue uptick. The company also confirmed that the Centers for Medicare & Medicaid Services has reassigned the payment for peripheral IVL procedures performed on above-the-knee arteries in the hospital outpatient setting, thereby meaningfully increasing the payments hospitals receive for these procedures.

Price Performance

Shares of the company have gained 60.9% in the past year compared with the industry’s 1.6% growth and the S&P 500's 13% rise.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Zacks Rank & Key Picks

Currently, Shockwave Medical carries a Zacks Rank #3 (Hold).

A few stocks from the broader medical space that investors can consider are AMN Healthcare Services, Inc. AMN, Edwards Lifesciences Corporation EW and Henry Schein, Inc. HSIC.

AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 20%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare has gained 39.4% against the industry’s 54.1% fall over the past year.

Edwards Lifesciences, carrying a Zacks Rank #2 (Buy), has an estimated long-term growth rate of 13.9%. EW’s earnings surpassed estimates in three of the trailing four quarters, the average surprise being 6.5%.

Edwards Lifesciences has gained 40.8% compared with the industry’s 1.6% growth over the past year.

Henry Schein has an estimated long-term growth rate of 11.8%. HSIC’s earnings surpassed estimates in the trailing four quarters, the average surprise being 25.5%. It currently has a Zacks Rank #2.

Henry Schein has gained 27.1% compared with the industry’s 8.3% growth over the past year.


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ShockWave Medical, Inc. (SWAV) : Free Stock Analysis Report

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