Silk Road Medical (NASDAQ:SILK) Hits New 1-Year High at $56.90

Silk Road Medical, Inc (NASDAQ:SILKGet Rating)’s stock price hit a new 52-week high on Friday . The company traded as high as $56.90 and last traded at $56.74, with a volume of 1033 shares. The stock had previously closed at $54.94.

Wall Street Analyst Weigh In

SILK has been the subject of a number of research reports. Argus raised their target price on shares of Silk Road Medical from $60.00 to $70.00 in a report on Monday, January 9th. Bank of America started coverage on shares of Silk Road Medical in a report on Tuesday, November 22nd. They set a “buy” rating and a $60.00 target price for the company. Finally, Citigroup raised their price objective on shares of Silk Road Medical to $38.00 in a research note on Tuesday, November 15th.

Silk Road Medical Stock Up 5.2 %

The business’s 50 day moving average is $51.99 and its 200 day moving average is $46.16. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.29 and a current ratio of 6.14. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -35.45 and a beta of 1.24.

Silk Road Medical (NASDAQ:SILKGet Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.15. Silk Road Medical had a negative net margin of 45.16% and a negative return on equity of 86.73%. The company had revenue of $37.37 million during the quarter, compared to the consensus estimate of $33.84 million. Equities analysts expect that Silk Road Medical, Inc will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Silk Road Medical news, CEO Erica J. Rogers sold 6,000 shares of the stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $51.53, for a total value of $309,180.00. Following the completion of the sale, the chief executive officer now owns 246,199 shares in the company, valued at approximately $12,686,634.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Erica J. Rogers sold 6,000 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $51.53, for a total transaction of $309,180.00. Following the transaction, the chief executive officer now owns 246,199 shares in the company, valued at approximately $12,686,634.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew S. Davis sold 6,753 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $52.87, for a total transaction of $357,031.11. Following the transaction, the insider now owns 98,205 shares in the company, valued at approximately $5,192,098.35. The disclosure for this sale can be found here. Insiders sold a total of 106,319 shares of company stock worth $5,539,500 in the last quarter. 7.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SILK. Altshuler Shaham Ltd bought a new position in shares of Silk Road Medical during the 3rd quarter valued at $30,000. Destiny Wealth Partners LLC bought a new position in Silk Road Medical in the 2nd quarter worth $36,000. Nisa Investment Advisors LLC bought a new position in Silk Road Medical in the 2nd quarter worth $38,000. MCF Advisors LLC bought a new position in Silk Road Medical in the 3rd quarter worth $43,000. Finally, US Bancorp DE raised its holdings in Silk Road Medical by 41.3% in the 1st 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. Institutional investors own 96.43% of the company’s stock.

Silk Road Medical Company Profile

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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. Its products include 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; 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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