Silk Road Medical, Inc (NASDAQ:SILK) Given Consensus Recommendation of “Hold” by Analysts

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have earned an average rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.18.

Several brokerages have recently issued reports on SILK. Lake Street Capital began coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Piper Sandler lifted their target price on shares of Silk Road Medical from $11.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Silk Road Medical from $10.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Argus upgraded 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 report on Thursday, March 7th. Finally, Stifel Nicolaus lifted their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th.

Insider Buying and Selling

In other Silk Road Medical news, CAO Marie L. Jones sold 2,602 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $44,676.34. Following the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Andrew S. Davis sold 5,481 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $94,108.77. Following the sale, the insider now directly owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Marie L. Jones sold 2,602 shares of the business’s stock in a transaction that occurred on 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 $1,320,269.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,457 shares of company stock worth $351,247. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Silk Road Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of Silk Road Medical by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock valued at $25,000 after acquiring an additional 222 shares during the period. Quarry LP raised its stake in shares of Silk Road Medical by 535.1% in the 1st quarter. Quarry LP now owns 978 shares of the company’s stock valued at $38,000 after acquiring an additional 824 shares during the period. US Bancorp DE increased its stake in Silk Road Medical by 41.3% during the 1st quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after buying an additional 489 shares during the period. Wells Fargo & Company MN increased its stake in Silk Road Medical by 12.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,829 shares of the company’s stock worth $97,000 after buying an additional 209 shares during the period. Finally, RiverPark Advisors LLC purchased a new stake in Silk Road Medical during the 3rd quarter worth approximately $34,000.

Silk Road Medical Trading Down 0.2 %

SILK opened at $17.42 on Friday. Silk Road Medical has a fifty-two week low of $6.08 and a fifty-two week high of $46.57. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $17.43 and a two-hundred day moving average of $13.13.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $47.27 million during the quarter, compared to analysts’ expectations of $42.23 million. As a group, analysts forecast that Silk Road Medical will post -1.39 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.