Insider Selling: Silk Road Medical, Inc (NASDAQ:SILK) Insider Sells $324,279.06 in Stock

Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) insider Andrew S. Davis sold 6,753 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total value of $324,279.06. Following the transaction, the insider now directly owns 98,205 shares in the company, valued at $4,715,804.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Silk Road Medical Stock Up 2.3 %

SILK stock opened at $47.29 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 10.41 and a quick ratio of 5.29. Silk Road Medical, Inc has a 12-month low of $27.30 and a 12-month high of $58.04. The stock’s 50 day simple moving average is $52.59 and its 200 day simple moving average is $48.54.

Silk Road Medical (NASDAQ:SILK – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.03. The business had revenue of $40.07 million for the quarter, compared to analyst estimates of $37.35 million. Silk Road Medical had a negative return on equity of 63.30% and a negative net margin of 39.81%. The business’s revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) EPS. On average, equities research analysts expect that Silk Road Medical, Inc will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SILK. Bank of America began coverage on Silk Road Medical in a research report on Tuesday, November 22nd. They issued a “buy” rating and a $60.00 target price on the stock. Wolfe Research lowered Silk Road Medical from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 7th. Argus upped their target price on Silk Road Medical from $60.00 to $70.00 in a research report on Monday, January 9th. Finally, Citigroup upped their target price on Silk Road Medical to $38.00 in a research report on Tuesday, November 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in Silk Road Medical by 91.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock worth $25,000 after buying an additional 222 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Silk Road Medical during the 3rd quarter worth $30,000. Nisa Investment Advisors LLC bought a new position in Silk Road Medical during the 2nd quarter worth $38,000. MCF Advisors LLC bought a new position in Silk Road Medical during the 3rd quarter worth $43,000. Finally, US Bancorp DE grew its stake in Silk Road Medical by 41.3% during the 1st quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after buying an additional 489 shares during the last quarter. 96.43% of the stock is currently owned by institutional investors.

Silk Road Medical Company Profile

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Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.