Engineers Gate Manager LP Makes New Investment in Silk Road Medical, Inc (NASDAQ:SILK)

Engineers Gate Manager LP acquired a new position in Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) in the third quarter, HoldingsChannel reports. The institutional investor acquired 8,371 shares of the company’s stock, valued at approximately $377,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C lifted its stake in Silk Road Medical by 24.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,676,891 shares of the company’s stock valued at $97,412,000 after buying an additional 523,179 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in Silk Road Medical by 8.1% in the first quarter. Wasatch Advisors Inc. now owns 4,087,829 shares of the company’s stock valued at $168,786,000 after buying an additional 306,577 shares during the last quarter. Jennison Associates LLC lifted its stake in Silk Road Medical by 52.4% in the third quarter. Jennison Associates LLC now owns 686,044 shares of the company’s stock valued at $30,872,000 after buying an additional 235,762 shares during the last quarter. Ensign Peak Advisors Inc lifted its stake in Silk Road Medical by 67.5% in the second quarter. Ensign Peak Advisors Inc now owns 473,859 shares of the company’s stock valued at $17,245,000 after buying an additional 190,913 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Silk Road Medical by 12.4% in the second quarter. Clearbridge Investments LLC now owns 1,533,857 shares of the company’s stock valued at $55,817,000 after buying an additional 169,428 shares during the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

Insiders Place Their Bets

In other Silk Road Medical news, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $52.87, for a total transaction of $357,031.11. Following the completion of the sale, the insider now owns 98,205 shares of the company’s stock, valued at $5,192,098.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Silk Road Medical news, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $52.87, for a total transaction of $357,031.11. Following the completion of the sale, the insider now owns 98,205 shares of the company’s stock, valued at $5,192,098.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard Ruedy sold 2,373 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $47.73, for a total value of $113,263.29. Following the completion of the sale, the executive vice president now directly owns 145,483 shares of the company’s stock, valued at $6,943,903.59. The disclosure for this sale can be found here. Insiders sold 227,268 shares of company stock valued at $11,996,938 over the last 90 days. 7.66% of the stock is currently owned by company insiders.

Silk Road Medical Stock Down 3.0 %

Shares of Silk Road Medical stock opened at $41.45 on Tuesday. The stock has a market capitalization of $1.59 billion, a P/E ratio of -26.74 and a beta of 1.22. The company has a quick ratio of 9.62, a current ratio of 10.41 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $51.60 and a two-hundred day moving average price of $48.64. Silk Road Medical, Inc has a 12-month low of $27.30 and a 12-month high of $58.04.

Silk Road Medical (NASDAQ:SILK – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.03. The firm had revenue of $40.07 million during the quarter, compared to analysts’ expectations of $37.35 million. Silk Road Medical had a negative return on equity of 63.30% and a negative net margin of 39.81%. The company’s revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Equities analysts expect that Silk Road Medical, Inc will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SILK shares. Citigroup upgraded shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Friday. Bank of America started coverage on shares of Silk Road Medical in a research note on Tuesday, November 22nd. They set a “buy” rating and a $60.00 price objective on the stock. Argus lifted their price objective on shares of Silk Road Medical from $60.00 to $70.00 in a research note on Monday, January 9th. Finally, Wolfe Research lowered Silk Road Medical from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 7th.

Silk Road Medical Company Profile

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Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.