Russell Investments Group Ltd. Acquires Shares of 47,894 Silk Road Medical, Inc (NASDAQ:SILK)

Russell Investments Group Ltd. acquired a new position in shares of Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 47,894 shares of the company’s stock, valued at approximately $2,531,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in shares of Silk Road Medical in the 3rd quarter worth $30,000. MCF Advisors LLC bought a new stake in shares of Silk Road Medical in the 3rd quarter worth $43,000. US Bancorp DE grew its stake in shares of 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 in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of Silk Road Medical in the third quarter valued at approximately $87,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Silk Road Medical by 154.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,187 shares of the company’s stock valued at $143,000 after acquiring an additional 1,934 shares in the last quarter. 96.43% of the stock is owned by institutional investors.

Silk Road Medical Price Performance

Silk Road Medical stock opened at $30.79 on Friday. Silk Road Medical, Inc has a one year low of $27.40 and a one year high of $58.04. The business has a fifty day moving average price of $40.36 and a 200-day moving average price of $47.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 11.03 and a quick ratio of 10.21. The firm has a market capitalization of $1.19 billion, a P/E ratio of -20.53 and a beta of 1.17.

Silk Road Medical (NASDAQ:SILK – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Silk Road Medical had a negative return on equity of 50.13% and a negative net margin of 36.47%. The company had revenue of $40.13 million during the quarter, compared to the consensus estimate of $40.69 million. During the same period in the previous year, the business earned ($0.48) earnings per share. Silk Road Medical’s revenue was up 43.2% on a year-over-year basis. As a group, equities research analysts forecast that Silk Road Medical, Inc will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on Silk Road Medical from $50.00 to $48.00 in a report on Wednesday, May 10th. Stifel Nicolaus reduced their price target on shares of Silk Road Medical from $60.00 to $50.00 in a research report on Wednesday, May 10th. Piper Sandler reduced their price target on shares of Silk Road Medical from $46.00 to $41.00 in a research report on Wednesday, May 10th. Wolfe Research lowered Silk Road Medical from a “peer perform” rating to an “underperform” rating and set a $27.00 price objective for the company. in a report on Monday, May 15th. Finally, B. Riley started coverage on Silk Road Medical in a report on Friday, March 31st. They set a “buy” rating and a $58.00 price objective for the company.

Insider Activity

In other news, insider Andrew S. Davis sold 6,753 shares of Silk Road Medical stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $48.02, for a total transaction of $324,279.06. Following the completion of the sale, the insider now directly owns 98,205 shares of the company’s stock, valued at approximately $4,715,804.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Erica J. Rogers sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $35.51, for a total value of $106,530.00. Following the sale, the chief executive officer now directly owns 269,132 shares of the company’s stock, valued at approximately $9,556,877.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total transaction of $324,279.06. Following the completion of the sale, the insider now directly owns 98,205 shares in the company, valued at $4,715,804.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,461 shares of company stock worth $3,523,672. 7.66% of the stock is owned by company insiders.

Silk Road Medical Profile

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Silk Road Medical, Inc engages in the development and manufacturing of 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.