Insider Selling: Silk Road Medical, Inc (NASDAQ:SILK) Director Sells 5,000 Shares of Stock

Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) Director Elizabeth H. Weatherman sold 5,000 shares of Silk Road Medical stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $41.91, for a total transaction of $209,550.00. Following the completion of the transaction, the director now directly owns 149,454 shares of the company’s stock, valued at approximately $6,263,617.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Silk Road Medical Trading Down 6.4 %

Shares of Silk Road Medical stock opened at $40.85 on Friday. Silk Road Medical, Inc has a twelve month low of $27.30 and a twelve month high of $58.04. The company has a current ratio of 10.41, a quick ratio of 9.62 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $50.97 and a two-hundred day simple moving average of $48.63.

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 for the quarter, topping the consensus estimate of ($0.37) by $0.03. Silk Road Medical had a negative net margin of 39.81% and a negative return on equity of 63.30%. The business had revenue of $40.07 million during the quarter, compared to analysts’ expectations of $37.35 million. During the same quarter in the previous year, the company earned ($0.42) EPS. The business’s revenue was up 41.8% on a year-over-year basis. Equities research analysts predict that Silk Road Medical, Inc will post -1.51 EPS for the current year.

Analysts Set New Price Targets

SILK has been the subject of several research analyst reports. Bank of America initiated 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. Wolfe Research downgraded shares of Silk Road Medical from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 7th. Argus lifted their target price on shares of Silk Road Medical from $60.00 to $70.00 in a report on Monday, January 9th. Finally, Citigroup raised shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 target price for the company in a report on Friday, March 10th.

Institutional Trading of Silk Road Medical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. raised its stake in Silk Road Medical by 10,205.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,019 shares of the company’s stock worth $180,000 after purchasing an additional 3,980 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Silk Road Medical by 12.4% in the 2nd 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 in the last quarter. Bridgewater Associates LP raised its position in shares of Silk Road Medical by 18.3% in the 2nd quarter. Bridgewater Associates LP now owns 53,950 shares of the company’s stock valued at $1,963,000 after buying an additional 8,332 shares in the last quarter. Jennison Associates LLC raised its position 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 buying an additional 235,762 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Silk Road Medical by 2.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,347,244 shares of the company’s stock valued at $49,026,000 after buying an additional 28,339 shares in the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

About Silk Road Medical

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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.