Silk Road Medical Inc (NASDAQ:SILK)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.30 and last traded at $69.30, with a volume of 289 shares. The stock had previously closed at $68.12.
SILK has been the subject of several analyst reports. SVB Leerink upped their price target on Silk Road Medical from $51.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Zacks Investment Research upgraded Silk Road Medical from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler initiated coverage on Silk Road Medical in a research note on Friday, August 21st. They set a “neutral” rating and a $54.00 price target for the company. Citigroup upped their price target on Silk Road Medical from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus upped their price target on Silk Road Medical from $47.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $52.80.
The business has a fifty day moving average price of $54.75 and a 200 day moving average price of $42.41. The company has a market capitalization of $2.29 billion, a PE ratio of -58.22 and a beta of 1.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 14.50 and a current ratio of 15.50.
Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $15.10 million for the quarter, compared to the consensus estimate of $12.37 million. Silk Road Medical had a negative return on equity of 43.15% and a negative net margin of 52.69%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted ($0.42) EPS. Research analysts forecast that Silk Road Medical Inc will post -1.12 earnings per share for the current fiscal year.
In other news, insider Andrew S. Davis sold 6,635 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $47.79, for a total value of $317,086.65. Following the completion of the sale, the insider now owns 25,537 shares in the company, valued at $1,220,413.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Erica J. Rogers sold 20,044 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $60.98, for a total value of $1,222,283.12. Following the completion of the sale, the chief executive officer now owns 127,982 shares of the company’s stock, valued at approximately $7,804,342.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,237 shares of company stock worth $5,113,571. Company insiders own 7.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Silk Road Medical by 59.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,636,550 shares of the company’s stock worth $110,446,000 after acquiring an additional 985,681 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Silk Road Medical by 75.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,530,599 shares of the company’s stock valued at $106,007,000 after purchasing an additional 1,088,358 shares during the period. Capital World Investors bought a new stake in shares of Silk Road Medical in the 1st quarter valued at approximately $55,635,000. BlackRock Inc. grew its stake in shares of Silk Road Medical by 18.8% in the 1st quarter. BlackRock Inc. now owns 1,659,606 shares of the company’s stock valued at $52,245,000 after purchasing an additional 263,090 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Silk Road Medical by 14.9% in the 2nd quarter. Jennison Associates LLC now owns 1,534,741 shares of the company’s stock valued at $64,290,000 after purchasing an additional 198,912 shares during the period.
About Silk Road Medical (NASDAQ:SILK)
Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
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