Silk Road Medical, Inc (NASDAQ:SILK) Stake Increased by Prelude Capital Management LLC

Prelude Capital Management LLC raised its stake in shares of Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,716 shares of the company’s stock after acquiring an additional 1,186 shares during the quarter. Prelude Capital Management LLC’s holdings in Silk Road Medical were worth $437,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C lifted its position in shares of Silk Road Medical by 24.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,676,891 shares of the company’s stock worth $97,412,000 after purchasing an additional 523,179 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Silk Road Medical during the 3rd quarter worth approximately $16,458,000. Wasatch Advisors Inc. grew its position in shares of Silk Road Medical by 8.1% in the 1st quarter. Wasatch Advisors Inc. now owns 4,087,829 shares of the company’s stock worth $168,786,000 after acquiring an additional 306,577 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Silk Road Medical by 52.4% in the 3rd quarter. Jennison Associates LLC now owns 686,044 shares of the company’s stock valued at $30,872,000 after acquiring an additional 235,762 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised its position in shares of Silk Road Medical by 67.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 473,859 shares of the company’s stock valued at $17,245,000 after acquiring an additional 190,913 shares in the last quarter. 96.43% of the stock is owned by institutional investors and hedge funds.

Silk Road Medical Stock Performance

NASDAQ SILK opened at $41.45 on Tuesday. The company 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 52 week low of $27.30 and a 52 week high of $58.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 9.62 and a current ratio of 10.41.

Silk Road Medical (NASDAQ:SILK – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. The business had revenue of $40.07 million during the quarter, compared to the consensus estimate 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 business’s revenue was up 41.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.42) earnings per share. Sell-side analysts expect that Silk Road Medical, Inc will post -1.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SILK. Citigroup raised shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a report on Friday. Argus increased their price objective on shares of Silk Road Medical from $60.00 to $70.00 in a research note on Monday, January 9th. Wolfe Research downgraded Silk Road Medical from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 7th. Finally, Bank of America began coverage on Silk Road Medical in a research report on Tuesday, November 22nd. They set a “buy” rating and a $60.00 price target on the stock.

Insider Activity

In related news, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $52.87, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Erica J. Rogers sold 18,043 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $47.10, for a total transaction of $849,825.30. Following the transaction, the chief executive officer now owns 269,132 shares in the company, valued at $12,676,117.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,268 shares of company stock valued at $11,996,938. Company insiders own 7.66% of the company’s stock.

Silk Road Medical 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.