Silk Road Medical, Inc (NASDAQ:SILK) Receives $20.29 Average PT from Analysts

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have been given an average rating of “Reduce” by the six analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.00.

Several research firms have recently commented on SILK. Argus cut Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Stifel Nicolaus restated a “hold” rating and issued a $27.50 price objective (up from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Finally, Lake Street Capital reiterated a “hold” rating and set a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th.

Silk Road Medical Stock Performance

Shares of NASDAQ:SILK opened at $27.49 on Friday. The business has a fifty day moving average of $27.26 and a 200-day moving average of $24.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.69 and a current ratio of 7.63. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $27.51. The firm has a market cap of $1.12 billion, a PE ratio of -20.07 and a beta of 1.53.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. The company had revenue of $51.20 million during the quarter, compared to analyst estimates of $49.74 million. During the same quarter in the previous year, the business posted ($0.35) EPS. The company’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Silk Road Medical will post -1.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kevin M. Klemz sold 2,268 shares of Silk Road Medical stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.10, for a total transaction of $61,462.80. Following the transaction, the executive vice president now owns 162,926 shares in the company, valued at $4,415,294.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Silk Road Medical

Several hedge funds have recently modified their holdings of the stock. Water Island Capital LLC bought a new stake in Silk Road Medical during the second quarter worth $10,986,000. The Manufacturers Life Insurance Company raised its holdings in shares of Silk Road Medical by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,940 shares of the company’s stock valued at $404,000 after purchasing an additional 372 shares during the period. AQR Capital Management LLC acquired a new stake in Silk Road Medical in the 2nd quarter valued at about $252,000. Glazer Capital LLC bought a new position in Silk Road Medical during the second quarter worth about $16,773,000. Finally, Marshall Wace LLP grew its holdings in Silk Road Medical by 16.7% during the second quarter. Marshall Wace LLP now owns 440,254 shares of the company’s stock worth $11,904,000 after purchasing an additional 63,139 shares during the period.

Silk Road Medical Company Profile

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.