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

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have received a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $20.29.

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

Insider Buying and Selling at Silk Road Medical

In other news, EVP Kevin M. Klemz sold 2,268 shares of the firm’s 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 transaction, the executive vice president now directly owns 162,926 shares in the company, valued at $4,415,294.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Silk Road Medical

Hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC purchased a new stake in Silk Road Medical during the 2nd quarter valued at approximately $53,279,000. Armistice Capital LLC acquired a new position in shares of Silk Road Medical in the fourth quarter valued at approximately $21,693,000. Goldman Sachs Group Inc. raised its stake in shares of Silk Road Medical by 707.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after purchasing an additional 1,762,048 shares during the last quarter. Rubric Capital Management LP acquired a new stake in shares of Silk Road Medical during the fourth quarter worth $17,520,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Silk Road Medical during the first quarter worth $18,981,000.

Silk Road Medical Stock Up 0.8 %

SILK stock opened at $27.50 on Monday. Silk Road Medical has a fifty-two week low of $6.08 and a fifty-two week high of $27.50. The company’s 50 day moving average price is $27.09 and its 200 day moving average price is $22.75. 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 firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53.

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