Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) – SVB Leerink cut their Q2 2022 earnings estimates for shares of Silk Road Medical in a research report issued on Wednesday, May 4th. SVB Leerink analyst D. Antalffy now expects that the company will post earnings per share of ($0.47) for the quarter, down from their previous forecast of ($0.41). SVB Leerink also issued estimates for Silk Road Medical’s Q3 2022 earnings at ($0.47) EPS, Q4 2022 earnings at ($0.43) EPS, FY2022 earnings at ($0.84) EPS, Q2 2023 earnings at ($0.33) EPS, Q3 2023 earnings at ($0.23) EPS, Q4 2023 earnings at ($0.16) EPS and FY2023 earnings at ($1.07) EPS.
Silk Road Medical (NASDAQ:SILK – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.11). Silk Road Medical had a negative net margin of 51.93% and a negative return on equity of 63.51%. The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $27.10 million. During the same period in the previous year, the business posted ($0.31) earnings per share. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year.
Shares of SILK stock opened at $32.96 on Monday. The business’s 50-day moving average price is $39.12 and its 200-day moving average price is $40.89. Silk Road Medical has a 12 month low of $27.21 and a 12 month high of $67.49. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -20.47 and a beta of 1.59. The company has a current ratio of 5.49, a quick ratio of 4.81 and a debt-to-equity ratio of 0.57.
In other news, CEO Erica J. Rogers sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $43.37, for a total transaction of $1,301,100.00. Following the completion of the sale, the chief executive officer now owns 245,649 shares in the company, valued at $10,653,797.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. IndexIQ Advisors LLC bought a new stake in Silk Road Medical during the first quarter worth $412,000. Hazlett Burt & Watson Inc. bought a new stake in Silk Road Medical during the first quarter worth $53,000. Advisor Group Holdings Inc. grew its holdings in Silk Road Medical by 13.6% during the first quarter. Advisor Group Holdings Inc. now owns 10,109 shares of the company’s stock worth $593,000 after buying an additional 1,208 shares in the last quarter. Prospera Financial Services Inc purchased a new position in Silk Road Medical in the first quarter worth $39,000. Finally, Envestnet Asset Management Inc. boosted its position in Silk Road Medical by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 21,345 shares of the company’s stock worth $881,000 after purchasing an additional 1,487 shares during the last quarter.
About Silk Road Medical (Get Rating)
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. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
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