HighTower Advisors LLC Has $2.77 Million Stake in Silk Road Medical, Inc (NASDAQ:SILK)

HighTower Advisors LLC grew its position in shares of Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,429 shares of the company’s stock after buying an additional 391 shares during the quarter. HighTower Advisors LLC owned approximately 0.14% of Silk Road Medical worth $2,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 buying an additional 295 shares during the last quarter. Arizona State Retirement System lifted its holdings in Silk Road Medical by 4.2% in the 4th quarter. Arizona State Retirement System now owns 9,943 shares of the company’s stock worth $525,000 after purchasing an additional 400 shares during the last quarter. US Bancorp DE lifted its holdings in Silk Road Medical by 41.3% in the 1st quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Silk Road Medical by 9.7% in the 4th quarter. Handelsbanken Fonder AB now owns 6,800 shares of the company’s stock worth $359,000 after purchasing an additional 600 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Silk Road Medical in the 3rd quarter worth approximately $30,000. 96.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Erica J. Rogers sold 18,043 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $47.10, for a total transaction of $849,825.30. Following the sale, the chief executive officer now directly owns 269,132 shares in the company, valued at $12,676,117.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Richard Ruedy sold 2,373 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $47.73, for a total transaction of $113,263.29. Following the sale, the executive vice president now directly owns 145,483 shares in the company, valued at $6,943,903.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Erica J. Rogers sold 18,043 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $47.10, for a total value of $849,825.30. Following the completion of the sale, the chief executive officer now owns 269,132 shares in the company, valued at $12,676,117.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,461 shares of company stock worth $3,523,672. Company insiders own 7.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on Silk Road Medical from $46.00 to $41.00 in a report on Wednesday, May 10th. Citigroup reduced their target price on Silk Road Medical from $50.00 to $48.00 in a report on Wednesday, May 10th. Argus reduced their target price on Silk Road Medical from $70.00 to $55.00 in a report on Monday. Stifel Nicolaus reduced their target price on Silk Road Medical from $60.00 to $50.00 in a report on Wednesday, May 10th. Finally, Wolfe Research lowered Silk Road Medical from a “peer perform” rating to an “underperform” rating and set a $27.00 target price for the company. in a report on Monday, May 15th.

Silk Road Medical Price Performance

Shares of SILK stock opened at $31.46 on Tuesday. Silk Road Medical, Inc has a 12 month low of $28.03 and a 12 month high of $58.04. The stock has a 50 day moving average of $40.36 and a 200-day moving average of $47.70. The company has a current ratio of 11.03, a quick ratio of 10.21 and a debt-to-equity ratio of 0.47.

Silk Road Medical (NASDAQ:SILK – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Silk Road Medical had a negative return on equity of 50.13% and a negative net margin of 36.47%. The business had revenue of $40.13 million for the quarter, compared to analyst estimates of $40.69 million. During the same quarter last year, the firm earned ($0.48) earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. Research analysts predict that Silk Road Medical, Inc will post -1.53 EPS for the current year.

About Silk Road Medical

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Silk Road Medical, Inc engages in the development and manufacturing of 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.