Silk Road Medical, Inc (NASDAQ:SILK – Get Free Report)’s stock price traded down 3.4% during trading on Tuesday . The company traded as low as $21.10 and last traded at $21.19. 94,862 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 745,202 shares. The stock had previously closed at $21.93.
Analyst Upgrades and Downgrades
Several research firms recently commented on SILK. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, March 7th. Stifel Nicolaus increased their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Piper Sandler increased their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Silk Road Medical has an average rating of “Hold” and a consensus price target of $20.10.
Silk Road Medical Stock Performance
The firm has a market cap of $842.04 million, a P/E ratio of -16.01 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 business’s fifty day simple moving average is $19.26 and its 200-day simple moving average is $15.29.
Silk Road Medical (NASDAQ:SILK – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) 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 35.47%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. As a group, sell-side analysts expect that Silk Road Medical, Inc will post -1.43 earnings per share for the current year.
Insider Activity
In other news, insider Andrew S. Davis sold 5,481 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the sale, the insider now owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew S. Davis sold 5,481 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the sale, the insider now owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin J. Ballinger bought 11,700 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the purchase, the director now directly 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 90 days, insiders have sold 20,457 shares of company stock valued at $351,247. Corporate insiders own 3.90% of the company’s stock.
Institutional Investors Weigh In On Silk Road Medical
Hedge funds have recently bought and sold shares of the business. RiverPark Advisors LLC bought a new stake in Silk Road Medical during the third quarter worth about $34,000. PNC Financial Services Group Inc. boosted its stake in Silk Road Medical by 1,293.9% during the fourth 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. CWM LLC boosted its stake in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Silk Road Medical by 879.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after acquiring an additional 3,780 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Silk Road Medical during the fourth quarter worth 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.