Silk Road Medical (NASDAQ:SILK) Shares Gap Up to $44.57

Silk Road Medical, Inc (NASDAQ:SILKGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $44.57, but opened at $45.62. Silk Road Medical shares last traded at $43.81, with a volume of 43,812 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SILK shares. Wolfe Research cut shares of Silk Road Medical from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 7th. Argus lifted their target price on Silk Road Medical from $60.00 to $70.00 in a research report on Monday, January 9th. Citigroup raised Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price target on the stock in a research report on Friday. Finally, Bank of America began coverage on shares of Silk Road Medical in a report on Tuesday, November 22nd. They issued a “buy” rating and a $60.00 price objective for the company.

Silk Road Medical Stock Down 4.1 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 9.62 and a current ratio of 10.41. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -27.58 and a beta of 1.22. The business’s 50 day moving average is $51.83 and its 200 day moving average is $48.61.

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

Insider Transactions at Silk Road Medical

In related news, CEO Erica J. Rogers sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $53.85, for a total value of $538,500.00. Following the transaction, the chief executive officer now directly owns 246,199 shares of the company’s stock, valued at approximately $13,257,816.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Erica J. Rogers sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $53.85, for a total value of $538,500.00. Following the sale, the chief executive officer now directly owns 246,199 shares of the company’s stock, valued at $13,257,816.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lucas W. Buchanan sold 25,000 shares of Silk Road Medical stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the transaction, the chief financial officer now owns 176,527 shares in the company, valued at $9,708,985. The disclosure for this sale can be found here. Insiders have sold a total of 272,328 shares of company stock worth $14,463,738 in the last 90 days. 7.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Silk Road Medical

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Silk Road Medical by 12.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,829 shares of the company’s stock worth $97,000 after purchasing an additional 209 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Silk Road Medical by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock valued at $25,000 after purchasing an additional 222 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Silk Road Medical by 6.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,265 shares of the company’s stock worth $225,000 after purchasing an additional 246 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Silk Road Medical by 2.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,319 shares of the company’s stock valued at $485,000 after purchasing an additional 295 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Silk Road Medical by 0.8% in the fourth quarter. HighTower Advisors LLC now owns 52,429 shares of the company’s stock valued at $2,771,000 after buying an additional 391 shares in the last quarter. 96.43% of the stock is owned by institutional investors and hedge funds.

Silk Road Medical Company Profile

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for Silk Road Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silk Road Medical and related companies with MarketBeat.com's FREE daily email newsletter.