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

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have received an average recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.18.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Lake Street Capital assumed coverage on shares of Silk Road Medical in a report on Wednesday, January 3rd. They set a “buy” rating and a $20.00 target price on the stock. Stifel Nicolaus raised their price target on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, March 7th. Finally, Piper Sandler raised their price target on shares of Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th.

Silk Road Medical Stock Performance

Shares of SILK stock opened at $17.71 on Friday. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $46.57. The company has a current ratio of 7.95, a quick ratio of 6.97 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $693.70 million, a P/E ratio of -12.31 and a beta of 1.48. The firm’s 50 day moving average is $17.36 and its 200 day moving average is $13.05.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. The business had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $42.23 million. On average, sell-side analysts anticipate that Silk Road Medical will post -1.39 earnings per share for the current year.

Insider Activity at Silk Road Medical

In related news, CAO Marie L. Jones sold 2,602 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 $44,676.34. Following the completion of the transaction, the chief accounting officer now directly owns 76,894 shares of the company’s stock, valued at approximately $1,320,269.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Silk Road Medical news, CAO Marie L. Jones sold 2,602 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $44,676.34. Following the completion of the sale, the chief accounting officer now directly owns 76,894 shares in the company, valued at approximately $1,320,269.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kevin M. Klemz sold 2,497 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $42,873.49. Following the sale, the executive vice president now owns 165,194 shares of the company’s stock, valued at $2,836,380.98. The disclosure for this sale can be found here. Insiders sold a total of 20,457 shares of company stock valued at $351,247 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Silk Road Medical

Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Silk Road Medical by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock worth $25,000 after acquiring an additional 222 shares during the period. Quarry LP grew its stake in shares of Silk Road Medical by 535.1% in the first quarter. Quarry LP now owns 978 shares of the company’s stock worth $38,000 after acquiring an additional 824 shares during the period. US Bancorp DE grew its stake in shares of Silk Road Medical by 41.3% in the first quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after acquiring an additional 489 shares during the period. Wells Fargo & Company MN grew its stake in shares of Silk Road Medical by 12.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,829 shares of the company’s stock worth $97,000 after acquiring an additional 209 shares during the period. Finally, RiverPark Advisors LLC bought a new stake in Silk Road Medical during the third quarter valued at approximately $34,000.

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.