Silk Road Medical (NASDAQ:SILK) Price Target Cut to $55.00 by Analysts at Argus

Silk Road Medical (NASDAQ:SILK – Get Rating) had its price target decreased by Argus from $70.00 to $55.00 in a report published on Monday, The Fly reports.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus decreased their target price on Silk Road Medical from $60.00 to $50.00 in a research report on Wednesday, May 10th. Wolfe Research cut shares of Silk Road Medical from a peer perform rating to an underperform rating and set a $27.00 price target for the company. in a research note on Monday, May 15th. Citigroup cut their price target on shares of Silk Road Medical from $50.00 to $48.00 in a research note on Wednesday, May 10th. Piper Sandler cut their price target on shares of Silk Road Medical from $46.00 to $41.00 in a research note on Wednesday, May 10th. Finally, B. Riley initiated coverage on shares of Silk Road Medical in a research note on Friday, March 31st. They set a buy rating and a $58.00 price target for the company.

Silk Road Medical Stock Up 2.2 %

SILK stock opened at $31.46 on Monday. Silk Road Medical has a twelve month low of $28.03 and a twelve month high of $58.04. The company has a market cap of $1.22 billion, a PE ratio of -20.97 and a beta of 1.17. The business’s 50-day simple moving average is $40.36 and its 200 day simple moving average is $47.70. The company has a quick ratio of 10.21, a current ratio of 11.03 and a debt-to-equity ratio of 0.47.

Silk Road Medical (NASDAQ:SILK – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.43) earnings per share 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 firm had revenue of $40.13 million for the quarter, compared to analyst estimates of $40.69 million. During the same period last year, the business earned ($0.48) earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. On average, research analysts anticipate that Silk Road Medical will post -1.53 earnings per share for the current year.

Insider Activity

In other news, insider Andrew S. Davis sold 6,753 shares of Silk Road Medical stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $48.02, for a total value of $324,279.06. Following the completion of the transaction, the insider now owns 98,205 shares in the company, valued at $4,715,804.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Richard Ruedy sold 2,373 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $47.73, for a total value of $113,263.29. Following the completion of the sale, the executive vice president now owns 145,483 shares of the company’s stock, valued at $6,943,903.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew S. Davis sold 6,753 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $48.02, for a total transaction of $324,279.06. Following the completion of the sale, the insider now directly owns 98,205 shares of the company’s stock, valued at approximately $4,715,804.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,461 shares of company stock worth $3,523,672. Insiders own 7.66% of the company’s stock.

Institutional Trading of Silk Road Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of Silk Road Medical by 12.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,829 shares of the company’s stock valued at $97,000 after purchasing an additional 209 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 222 shares during the period. Rockefeller Capital Management L.P. grew its holdings in 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 acquiring an additional 246 shares during the period. Price T Rowe Associates Inc. MD grew 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 worth $485,000 after acquiring an additional 295 shares during the period. Finally, Mengis Capital Management Inc. grew its holdings in Silk Road Medical by 2.8% during the 1st quarter. Mengis Capital Management Inc. now owns 12,810 shares of the company’s stock worth $501,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 96.43% of the company’s stock.

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.