Silk Road Medical (NASDAQ:SILK) Now Covered by Analysts at CL King

CL King assumed coverage on shares of Silk Road Medical (NASDAQ:SILK – Get Rating) in a report published on Tuesday morning, The Fly reports. The firm issued a buy rating and a $47.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus lowered their target price on Silk Road Medical from $60.00 to $50.00 in a report on Wednesday, May 10th. Wolfe Research lowered Silk Road Medical from a peer perform rating to an underperform rating and set a $27.00 price target on the stock. in a research note on Monday, May 15th. Citigroup reduced their price target on Silk Road Medical from $50.00 to $48.00 in a research note on Wednesday, May 10th. Argus reduced their price target on Silk Road Medical from $70.00 to $55.00 in a research note on Monday. Finally, B. Riley started coverage on Silk Road Medical in a research note on Friday, March 31st. They set a buy rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $48.25.

Silk Road Medical Price Performance

Shares of NASDAQ:SILK opened at $31.52 on Tuesday. The business’s fifty day moving average price is $39.95 and its two-hundred day moving average price is $47.54. The stock has a market cap of $1.22 billion, a PE ratio of -21.01 and a beta of 1.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 10.21 and a current ratio of 11.03. Silk Road Medical has a one year low of $28.03 and a one year high of $58.04.

Silk Road Medical (NASDAQ:SILK – Get Rating) last announced its 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). The company had revenue of $40.13 million for the quarter, compared to analyst estimates of $40.69 million. Silk Road Medical had a negative net margin of 36.47% and a negative return on equity of 50.13%. Silk Road Medical’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.48) EPS. On average, analysts forecast that Silk Road Medical will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Erica J. Rogers sold 3,000 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $35.51, for a total value of $106,530.00. Following the transaction, the chief executive officer now directly owns 269,132 shares of the company’s stock, valued at approximately $9,556,877.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Silk Road Medical news, EVP Richard Ruedy sold 2,373 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $47.73, for a total value of $113,263.29. Following the transaction, the executive vice president now directly owns 145,483 shares of the company’s stock, valued at $6,943,903.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Erica J. Rogers sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $35.51, for a total value of $106,530.00. Following the completion of the transaction, the chief executive officer now directly owns 269,132 shares in the company, valued at $9,556,877.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,461 shares of company stock valued at $3,523,672. 7.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SILK. Fred Alger Management LLC purchased a new position in Silk Road Medical in the first quarter valued at about $40,012,000. Lord Abbett & CO. LLC grew its stake in shares of Silk Road Medical by 153.1% during the fourth quarter. Lord Abbett & CO. LLC now owns 925,872 shares of the company’s stock valued at $48,933,000 after acquiring an additional 560,131 shares in the last quarter. Braidwell LP acquired a new stake in shares of Silk Road Medical during the fourth quarter valued at about $22,029,000. Renaissance Technologies LLC grew its stake in shares of Silk Road Medical by 213.6% during the first quarter. Renaissance Technologies LLC now owns 493,600 shares of the company’s stock valued at $19,315,000 after acquiring an additional 336,200 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its stake in shares of Silk Road Medical by 8.1% during the first quarter. Wasatch Advisors Inc. now owns 4,087,829 shares of the company’s stock valued at $168,786,000 after acquiring an additional 306,577 shares in the last quarter. 96.43% of the stock is owned by hedge funds and other institutional investors.

Silk Road Medical Company Profile

(Get Rating)

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.