Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>Recently a note on <a href="https://www.smartkarma.com/entities/shockwave-medical-inc" target="_blank" data-smartkarma-citation="entities:28730:1" rel="noopener">Shockwave Medical Inc (SWAV US)</a> was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned</li>
<li>Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market </li>
<li>Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.</li>
</ul>


Recently a note on Shockwave Medical Inc (SWAV US) was published on SK. Being a potential game changer, we analyzed technical publications to see how well the company is positioned
Currently, Shockwave Medical is likely the only player in the intravascular lithotripsy market. As the intravascular device deals with calcified lesions, its primary competition is from the atherectomy market 
Despite being a recent company with a new technology it ranks third in innovating in the area of - removing/modifying obstructions, calculi and pre-procedure preparation for intravascular intervention.


Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shockwave-medical-inc" target="_blank" data-smartkarma-citation="entities:28730:1" rel="noopener">Shockwave Medical Inc (SWAV US)</a>, with its differentiated local delivery of sonic pressure waves for the treatment of calcified plaque, seeks to establish a new standard of care through IVL.  </li>
<li>The company is advancing IVL system for multiple large addressable markets totaling over $8.5B. Shockwave’s revenue has five-year CAGR of 244%, with continued improvement in gross margins.</li>
<li>Ongoing clinical programs to expand geographies and indications should further accelerate growth. Recently, the company obtained marketing approval in China and Japan.</li>
</ul>



Shockwave Medical Inc (SWAV US), with its differentiated local delivery of sonic pressure waves for the treatment of calcified plaque, seeks to establish a new standard of care through IVL.  
The company is advancing IVL system for multiple large addressable markets totaling over $8.5B. Shockwave’s revenue has five-year CAGR of 244%, with continued improvement in gross margins.
Ongoing clinical programs to expand geographies and indications should further accelerate growth. Recently, the company obtained marketing approval in China and Japan.


Shockwave Medical Inc (SWAV US): An Emerging High-Quality Cardiovascular Devices Idea

<ul>
<li>
<a href="https://www.smartkarma.com/entities/venus-medtech-hangzhou-inc" target="_blank" data-smartkarma-citation="entities:28257:1" rel="noopener">Venus MedTech (2500 HK)</a> is facing competition in China TAVR market and its market share has deteriorated to 70% in 2021 from 79.3% in 2018.</li>
<li>Due to declining ASP and low pricing power, the company’s gross profit margin has declined to 78% in 2021 from 86% in 2018.</li>
<li>During 2021, the company’s loss expanded 103% y/y to RMB372 million, mainly due to elevated selling and distribution expenses and R&amp;D costs.</li>
</ul>



Venus MedTech (2500 HK) is facing competition in China TAVR market and its market share has deteriorated to 70% in 2021 from 79.3% in 2018.
Due to declining ASP and low pricing power, the company’s gross profit margin has declined to 78% in 2021 from 86% in 2018.
During 2021, the company’s loss expanded 103% y/y to RMB372 million, mainly due to elevated selling and distribution expenses and R&amp;D costs.


Venus MedTech (2500 HK): Overcrowded Market, Margin Pressure, Expanding Loss

<ul>
<li>
<a href="https://www.smartkarma.com/entities/phc-holdings-corp" target="_blank" data-smartkarma-citation="entities:34198:1" rel="noopener">PHC Holdings (6523 JP)</a> is a diversified healthcare company, which serves ~$25 billion broader end-market, of which global glucose monitoring is the largest end-market.</li>
<li>The company’s diabetes management business is the highest margin earning segment and is poised to grow through expanding presence in continuous glucose monitoring system.</li>
<li>PHC can be an early investment idea as a passive play on the fastest growing segment of the global diabetes management segment ahead of its global launch of next-generation CGM.</li>
</ul>



PHC Holdings (6523 JP) is a diversified healthcare company, which serves ~$25 billion broader end-market, of which global glucose monitoring is the largest end-market.
The company’s diabetes management business is the highest margin earning segment and is poised to grow through expanding presence in continuous glucose monitoring system.
PHC can be an early investment idea as a passive play on the fastest growing segment of the global diabetes management segment ahead of its global launch of next-generation CGM.


PHC Holdings (6523 JP): Eyeing a Bigger Pie of Global Diabetes Management Solution

<ul>
<li>
<a href="https://www.smartkarma.com/entities/international-business-machines-corp" target="_blank" data-smartkarma-citation="entities:1064:1" rel="noopener">International Business Machines (IBM US)</a>, <a href="https://www.smartkarma.com/entities/alphabet-inc-cl-c" target="_blank" data-smartkarma-citation="entities:11369:1" rel="noopener">Alphabet Inc Cl C (GOOG US)</a><a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a>, and <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> are the top five AI innovators.</li>
<li>Top "non-tech" companies include medical diagnostic/surgical players like <a href="https://www.smartkarma.com/entities/johnson-johnson" target="_blank" data-smartkarma-citation="entities:1132:1" rel="noopener">Johnson &amp; Johnson (JNJ US)</a>, <a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a>, and financials like State Farm Mutual, and <a href="https://www.smartkarma.com/entities/capital-one-financial-corp" target="_blank" data-smartkarma-citation="entities:255:1" rel="noopener">Capital One Financial (COF US)</a>
</li>
<li>Since AI technology includes integrating several areas of technology, we have data-mined from multiple technological areas that we think are fundamental to AI, We have detailed these in the report.</li>
</ul>



International Business Machines (IBM US), Alphabet Inc Cl C (GOOG US)Apple Inc (AAPL US), Amazon.com Inc (AMZN US), and Samsung Electronics (005930 KS) are the top five AI innovators.
Top "non-tech" companies include medical diagnostic/surgical players like Johnson &amp; Johnson (JNJ US), Medtronic Plc (MDT US), and financials like State Farm Mutual, and Capital One Financial (COF US)

Since AI technology includes integrating several areas of technology, we have data-mined from multiple technological areas that we think are fundamental to AI, We have detailed these in the report.


Insights from Data Mining Technical Publications - A Look into Artificial Intelligence

United States

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company's principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic's products are sold worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Medtronic Plc (MDT US)

Datamining Tech Publications to Assess Shockwave's Paradigm Shift Solution In Vascular Interventions

Shockwave’s intravascular lithotripsy product could become a game changer in dealing with coronary calcium and may offer a more effective solution...

Pyari Menon

Shockwave Medical Inc (SWAV US): An Emerging High-Quality Cardiovascular Devices Idea

Shockwave is seeing increasing adoption of its differentiated IVL systems for the treatment of calcified cardiovascular disease. Indication and...

Tina Banerjee

Venus MedTech (2500 HK): Overcrowded Market, Margin Pressure, Expanding Loss

Despite shares plunged 82% from highs, Venus MedTech is not a bottom-fishing idea, as unfavorable competitive landscape in its operating market...

Tina Banerjee

PHC Holdings (6523 JP): Eyeing a Bigger Pie of Global Diabetes Management Solution

Ahead of the global launch on Senseonics’ next-generation implantable CGM in Q2 2022, we are bullish on the long-term growth prospect of PHC.

Tina Banerjee

Insights from Data Mining Technical Publications - A Look into Artificial Intelligence

The global artificial intelligence (AI) market is forecast to grow rapidly in the coming years. In this report, we data-mine publications to rank...

Pyari Menon

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)