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

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.18.

SILK has been the topic of several recent analyst reports. Lake Street Capital initiated coverage on Silk Road Medical in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Argus raised Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, March 7th. Stifel Nicolaus raised their price objective on Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Piper Sandler raised their price objective on Silk Road Medical from $11.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 29th.

Insiders Place Their Bets

In related news, Director Kevin J. Ballinger bought 11,700 shares of the business’s stock in a transaction 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 acquisition, the director now owns 17,807 shares of the company’s stock, valued at $302,540.93. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Marie L. Jones sold 2,602 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value 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 approximately $1,320,269.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin J. Ballinger acquired 11,700 shares of the stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average cost of $16.99 per share, with a total value of $198,783.00. Following the completion of the transaction, the director now owns 17,807 shares in the company, valued at approximately $302,540.93. The disclosure for this purchase can be found here. In the last three months, insiders have sold 20,457 shares of company stock valued at $351,247. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its position in shares of Silk Road Medical by 1,293.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after acquiring an additional 2,342 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Silk Road Medical by 707.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares in the last quarter. Bullseye Asset Management LLC raised its position in shares of Silk Road Medical by 17.9% in the 4th quarter. Bullseye Asset Management LLC now owns 131,718 shares of the company’s stock worth $1,616,000 after acquiring an additional 20,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Silk Road Medical by 18.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,415 shares of the company’s stock worth $411,000 after acquiring an additional 5,152 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Silk Road Medical by 278.6% in the 4th quarter. Barclays PLC now owns 52,761 shares of the company’s stock worth $647,000 after acquiring an additional 38,826 shares in the last quarter.

Silk Road Medical Price Performance

Silk Road Medical stock opened at $19.12 on Friday. The stock’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $13.05. Silk Road Medical has a one year low of $6.08 and a one year high of $46.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.95 and a quick ratio of 6.97. The firm has a market cap of $749.03 million, a PE ratio of -13.28 and a beta of 1.48.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. Silk Road Medical had a negative return on equity of 36.38% and a negative net margin of 31.70%. The company had revenue of $47.27 million for the quarter, compared to analyst estimates of $42.23 million. As a group, research analysts expect that Silk Road Medical will post -1.39 EPS for the current fiscal year.

Silk Road Medical Company Profile

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.