Silk Road Medical, Inc (NASDAQ:SILK) Receives Consensus Recommendation of “Hold” from Brokerages

Silk Road Medical, Inc (NASDAQ:SILK) has earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.55.

Several research firms recently commented on SILK. Argus upgraded Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, March 7th. JPMorgan Chase & Co. boosted their price objective on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus boosted their price objective on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Piper Sandler boosted their price objective on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st.

Silk Road Medical Stock Up 3.1 %

SILK stock opened at $20.90 on Tuesday. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $43.51. The firm has a market capitalization of $824.30 million, a PE ratio of -15.26 and a beta of 1.43. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $13.80.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The business had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.12%. Silk Road Medical’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) EPS. On average, equities analysts predict that Silk Road Medical will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Marie L. Jones sold 2,602 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $44,676.34. Following the completion of the transaction, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at $1,320,269.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Marie L. Jones sold 2,602 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $44,676.34. Following the sale, the chief accounting officer now owns 76,894 shares in the company, valued at $1,320,269.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin M. Klemz sold 2,497 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $42,873.49. Following the completion of the sale, the executive vice president now directly owns 165,194 shares of the company’s stock, valued at $2,836,380.98. The disclosure for this sale can be found here. Insiders have sold 20,457 shares of company stock valued at $351,247 in the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Silk Road Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new position in shares of Silk Road Medical in the 3rd quarter worth about $34,000. PNC Financial Services Group Inc. increased its stake in Silk Road Medical by 1,293.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock valued at $31,000 after purchasing an additional 2,342 shares in the last quarter. CWM LLC increased its stake in Silk Road Medical by 151.5% during the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after purchasing an additional 1,544 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Silk Road Medical by 879.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock valued at $52,000 after purchasing an additional 3,780 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Silk Road Medical during the 4th quarter valued at about $62,000.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.