Silk Road Medical (NASDAQ:SILK) Now Covered by Analysts at CL King

CL King initiated coverage on shares of Silk Road Medical (NASDAQ:SILK – Get Rating) in a report published on Tuesday morning, The Fly reports. The firm issued a buy rating and a $47.00 target price on the stock.

SILK has been the topic of several other reports. Stifel Nicolaus lowered their price target on shares of Silk Road Medical from $60.00 to $50.00 in a research note on Wednesday, May 10th. Citigroup lowered their price objective on shares of Silk Road Medical from $50.00 to $48.00 in a research note on Wednesday, May 10th. Piper Sandler lowered their price objective on shares of Silk Road Medical from $46.00 to $41.00 in a research note on Wednesday, May 10th. Wolfe Research lowered shares of Silk Road Medical from a peer perform rating to an underperform rating and set a $27.00 price objective on the stock. in a research note on Monday, May 15th. Finally, Argus lowered their price objective on shares of Silk Road Medical from $70.00 to $55.00 in a research note on Monday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Silk Road Medical presently has an average rating of Moderate Buy and a consensus target price of $48.25.

Silk Road Medical Stock Up 0.2 %

Shares of SILK stock opened at $31.52 on Tuesday. The company has a current ratio of 11.03, a quick ratio of 10.21 and a debt-to-equity ratio of 0.47. Silk Road Medical has a 1 year low of $28.03 and a 1 year high of $58.04. The firm’s fifty day moving average price is $39.95 and its two-hundred day moving average price is $47.54. The firm has a market capitalization of $1.22 billion, a P/E ratio of -21.01 and a beta of 1.17.

Silk Road Medical (NASDAQ:SILK – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.43) earnings per share (EPS) 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 business had revenue of $40.13 million during the quarter, compared to analyst estimates of $40.69 million. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. On average, equities analysts predict that Silk Road Medical will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Silk Road Medical news, insider Andrew S. Davis sold 6,753 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were 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 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 the SEC website. In other news, EVP Richard Ruedy sold 2,373 shares of the business’s 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 transaction, the executive vice president now directly owns 145,483 shares in the company, valued at approximately $6,943,903.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total transaction of $324,279.06. Following the transaction, the insider now owns 98,205 shares of the company’s stock, valued at $4,715,804.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,461 shares of company stock valued at $3,523,672. Company insiders own 7.66% of the company’s stock.

Hedge Funds Weigh In On Silk Road Medical

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. increased its position in Silk Road Medical by 8.1% during the 1st 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. Wasatch Advisors LP increased its position in Silk Road Medical by 5.9% during the 1st quarter. Wasatch Advisors LP now owns 3,244,538 shares of the company’s stock worth $126,959,000 after purchasing an additional 181,397 shares in the last quarter. Vanguard Group Inc. increased its position in Silk Road Medical by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,195,288 shares of the company’s stock worth $143,788,000 after purchasing an additional 38,613 shares in the last quarter. BlackRock Inc. increased its position in Silk Road Medical by 0.7% during the 1st quarter. BlackRock Inc. now owns 2,682,159 shares of the company’s stock worth $104,953,000 after purchasing an additional 17,397 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Silk Road Medical by 3.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,729,101 shares of the company’s stock valued at $67,660,000 after acquiring an additional 56,517 shares during the period. 96.43% of the stock is currently owned by institutional investors and hedge funds.

About Silk Road Medical

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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.