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

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have received an average recommendation of “Reduce” from the nine brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $20.29.

SILK has been the topic of several analyst reports. Lake Street Capital reiterated a “hold” rating and set a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Stifel Nicolaus reiterated a “hold” rating and set a $27.50 price objective (up from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Finally, Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th.

Silk Road Medical Trading Down 0.0 %

Shares of NASDAQ:SILK opened at $27.49 on Friday. Silk Road Medical has a 52-week low of $6.08 and a 52-week high of $27.51. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.69 and a current ratio of 7.63. The stock’s 50-day simple moving average is $27.24 and its two-hundred day simple moving average is $24.01.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The business had revenue of $51.20 million during the quarter, compared to analysts’ expectations of $49.74 million. During the same period in the previous year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts expect that Silk Road Medical will post -1.45 EPS for the current year.

Insider Buying and Selling

In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.10, for a total transaction of $61,462.80. Following the completion of the sale, the executive vice president now directly owns 162,926 shares of the company’s stock, valued at $4,415,294.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is owned by insiders.

Institutional Trading of Silk Road Medical

Several hedge funds have recently bought and sold shares of SILK. PNC Financial Services Group Inc. increased its holdings in shares of Silk Road Medical by 1,293.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the last quarter. SG Americas Securities LLC purchased a new position in Silk Road Medical during the 1st quarter valued at approximately $109,000. Rathbones Group PLC bought a new stake in Silk Road Medical in the 2nd quarter worth approximately $201,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Silk Road Medical by 9.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock worth $221,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Silk Road Medical during the 1st quarter valued at approximately $249,000.

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.