HighTower Advisors LLC Has $2.77 Million Position in Silk Road Medical, Inc (NASDAQ:SILK)

HighTower Advisors LLC grew its holdings in Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,429 shares of the company’s stock after purchasing an additional 391 shares during the quarter. HighTower Advisors LLC’s holdings in Silk Road Medical were worth $2,771,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SILK. Lord Abbett & CO. LLC acquired a new position in Silk Road Medical in the third quarter worth $16,458,000. Wasatch Advisors Inc. boosted 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 worth $168,786,000 after purchasing an additional 306,577 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Silk Road Medical by 189.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 345,057 shares of the company’s stock worth $18,236,000 after purchasing an additional 225,689 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Silk Road Medical in the fourth quarter worth $11,556,000. Finally, Ensign Peak Advisors Inc boosted its stake in Silk Road Medical by 35.0% in the third quarter. Ensign Peak Advisors Inc now owns 639,895 shares of the company’s stock worth $28,796,000 after purchasing an additional 166,036 shares in the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

Silk Road Medical Trading Up 2.2 %

NASDAQ:SILK opened at $31.46 on Tuesday. Silk Road Medical, Inc has a 1-year low of $28.03 and a 1-year high of $58.04. The business’s 50-day moving average price is $40.36 and its two-hundred day moving average price is $47.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 11.03 and a quick ratio of 10.21.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Piper Sandler cut their price target on Silk Road Medical from $46.00 to $41.00 in a research note on Wednesday, May 10th. Argus cut their price target on Silk Road Medical from $70.00 to $55.00 in a research note on Monday. Citigroup cut their price target on Silk Road Medical from $50.00 to $48.00 in a research note 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 target on the stock. in a research note on Monday, May 15th. Finally, Stifel Nicolaus cut their price target on Silk Road Medical from $60.00 to $50.00 in a research note on Wednesday, May 10th.

Insider Buying and Selling at Silk Road Medical

In other Silk Road Medical news, insider Andrew S. Davis sold 6,753 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Silk Road Medical news, insider Andrew S. Davis sold 6,753 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erica J. Rogers sold 18,043 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $47.10, for a total value of $849,825.30. Following the completion of the sale, the chief executive officer now owns 269,132 shares of the company’s stock, valued at $12,676,117.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,461 shares of company stock valued at $3,523,672. 7.66% of the stock is currently owned by company insiders.

Silk Road Medical Company 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.