Silk Road Medical (NASDAQ:SILK) Trading Up 6.8%

Shares of Silk Road Medical, Inc (NASDAQ:SILKGet Free Report) shot up 6.8% on Friday . The stock traded as high as $21.98 and last traded at $21.98. 111,443 shares were traded during mid-day trading, a decline of 85% from the average session volume of 741,467 shares. The stock had previously closed at $20.58.

Analyst Upgrades and Downgrades

Several analysts recently commented on SILK shares. Argus raised Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, March 7th. Stifel Nicolaus upped their price objective on Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Piper Sandler increased their price target on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.10.

Check Out Our Latest Stock Analysis on SILK

Silk Road Medical Stock Performance

The stock has a market capitalization of $857.43 million, a price-to-earnings ratio of -15.87 and a beta of 1.43. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $19.46 and a 200-day moving average of $15.62.

Silk Road Medical (NASDAQ:SILKGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, beating 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 return on equity of 35.47% and a negative net margin of 29.02%. The company’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.43) earnings per share. As a group, sell-side analysts predict that Silk Road Medical, Inc will post -1.43 earnings per share for the current year.

Insider Buying and Selling at Silk Road Medical

In related news, 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 sale, the executive vice president now directly owns 165,194 shares of the company’s stock, valued at $2,836,380.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kevin J. Ballinger purchased 11,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $16.99 per share, with a total value of $198,783.00. Following the purchase, the director now owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin M. Klemz sold 2,497 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $42,873.49. Following the sale, the executive vice president now owns 165,194 shares of the company’s stock, valued at $2,836,380.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,457 shares of company stock worth $351,247. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SILK. State Board of Administration of Florida Retirement System grew its holdings in Silk Road Medical by 9.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock valued at $221,000 after buying an additional 1,090 shares in the last quarter. Swiss National Bank raised its position in shares of Silk Road Medical by 1.7% during the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $1,277,000 after acquiring an additional 1,400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Silk Road Medical by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock worth $640,000 after acquiring an additional 1,490 shares in the last quarter. CWM LLC grew 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 worth $31,000 after buying an additional 1,544 shares during the last quarter. Finally, RiverPark Advisors LLC purchased a new position in Silk Road Medical during the 3rd quarter worth approximately $34,000.

Silk Road Medical Company Profile

(Get Free Report)

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.

Further Reading

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