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

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $20.85.

Several equities research analysts have issued reports on the stock. 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 research note on Thursday, March 7th. Lake Street Capital reaffirmed a “hold” rating and set a $27.50 price objective (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price objective on Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler upped 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.

Institutional Trading of Silk Road Medical

Several hedge funds have recently made changes to their positions in the company. Armistice Capital LLC purchased a new position in Silk Road Medical during the fourth quarter worth about $21,693,000. Goldman Sachs Group Inc. lifted its holdings 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 valued at $24,675,000 after buying an additional 1,762,048 shares during the period. Rubric Capital Management LP purchased a new stake in shares of Silk Road Medical in the fourth quarter valued at approximately $17,520,000. Kennedy Capital Management LLC acquired a new position in Silk Road Medical during the first quarter worth $18,981,000. Finally, Rings Capital Management LLC purchased a new position in Silk Road Medical in the fourth quarter worth $10,552,000.

Silk Road Medical Trading Up 0.5 %

NASDAQ:SILK opened at $27.04 on Wednesday. The firm has a 50 day moving average of $21.85 and a 200 day moving average of $17.78. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52. Silk Road Medical has a 52 week low of $6.08 and a 52 week high of $33.13. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -19.74 and a beta of 1.51.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data 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. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The firm had revenue of $48.50 million during the quarter, compared to analysts’ expectations of $44.67 million. During the same quarter last year, the firm earned ($0.43) EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Silk Road Medical will post -1.43 earnings per share for the current fiscal year.

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.