Analysts Anticipate Silk Road Medical, Inc (NASDAQ:SILK) Will Post Earnings of -$0.47 Per Share

Brokerages predict that Silk Road Medical, Inc (NASDAQ:SILKGet Rating) will post ($0.47) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Silk Road Medical’s earnings. The lowest EPS estimate is ($0.50) and the highest is ($0.46). Silk Road Medical posted earnings of ($0.31) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 51.6%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Silk Road Medical will report full-year earnings of ($1.54) per share for the current fiscal year, with EPS estimates ranging from ($1.93) to ($0.84). For the next fiscal year, analysts forecast that the company will post earnings of ($1.29) per share, with EPS estimates ranging from ($1.67) to ($1.05). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Silk Road Medical.

Silk Road Medical (NASDAQ:SILKGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.11). Silk Road Medical had a negative return on equity of 63.51% and a negative net margin of 51.93%. The company had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $27.10 million. During the same quarter in the prior year, the firm posted ($0.31) EPS. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year.

Several research firms recently commented on SILK. Citigroup reduced their price target on shares of Silk Road Medical from $45.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, February 25th. Piper Sandler upped their price target on shares of Silk Road Medical from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, April 4th. Zacks Investment Research upgraded shares of Silk Road Medical from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, Wolfe Research initiated coverage on shares of Silk Road Medical in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $48.00 price target for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.50.

In other news, CEO Erica J. Rogers sold 30,000 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $43.37, for a total value 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 approximately $10,653,797.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SILK. Deerfield Management Company L.P. Series C lifted its stake in shares of Silk Road Medical by 53.2% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,517,181 shares of the company’s stock valued at $64,647,000 after purchasing an additional 526,930 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Silk Road Medical by 21.7% in the third quarter. Alliancebernstein L.P. now owns 2,924,919 shares of the company’s stock valued at $160,958,000 after purchasing an additional 521,628 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of Silk Road Medical by 13.5% in the fourth quarter. Wasatch Advisors Inc. now owns 3,781,252 shares of the company’s stock valued at $161,119,000 after purchasing an additional 449,414 shares during the period. Sectoral Asset Management Inc purchased a new position in Silk Road Medical during the 3rd quarter valued at about $23,360,000. Finally, Bellevue Group AG increased its holdings in Silk Road Medical by 21.8% during the 4th quarter. Bellevue Group AG now owns 952,433 shares of the company’s stock valued at $40,583,000 after acquiring an additional 170,773 shares in the last quarter.

SILK stock opened at $31.01 on Friday. The company has a fifty day moving average price of $38.44 and a 200 day moving average price of $39.79. Silk Road Medical has a 12 month low of $27.21 and a 12 month high of $67.49. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -19.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.49 and a quick ratio of 4.81.

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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Earnings History and Estimates for Silk Road Medical (NASDAQ:SILK)

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