Silk Road Medical (SILK) Set to Announce Quarterly Earnings on Tuesday

Silk Road Medical (NASDAQ:SILK) will announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of ($0.40) per share for the quarter. Silk Road Medical has set its FY 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. The company had revenue of $47.27 million for the quarter, compared to analysts’ expectations of $42.23 million. On average, analysts expect Silk Road Medical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Silk Road Medical Price Performance

Shares of NASDAQ SILK opened at $17.80 on Monday. Silk Road Medical has a 1 year low of $6.08 and a 1 year high of $45.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.95 and a quick ratio of 6.97. The company’s 50-day moving average is $17.52 and its 200 day moving average is $13.27. The stock has a market capitalization of $697.23 million, a P/E ratio of -12.36 and a beta of 1.48.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SILK. Argus upgraded shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, March 7th. Stifel Nicolaus boosted their price target on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Piper Sandler boosted their price target on shares of Silk Road Medical from $11.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Finally, Lake Street Capital began coverage on shares of Silk Road Medical in a research note on Wednesday, January 3rd. They set a “buy” rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.18.

Insider Transactions at Silk Road Medical

In other news, Director Kevin J. Ballinger bought 11,700 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the purchase, the director now owns 17,807 shares in the company, valued at approximately $302,540.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Kevin J. Ballinger bought 11,700 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the purchase, the director now owns 17,807 shares in the company, valued at approximately $302,540.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew S. Davis sold 5,481 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the transaction, the insider now owns 287,773 shares in the company, valued at approximately $4,941,062.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,457 shares of company stock worth $351,247. Corporate insiders own 6.70% of the company’s stock.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.