Silk Road Medical (NASDAQ:SILK) Given “Hold” Rating at Lake Street Capital

Lake Street Capital reiterated their hold rating on shares of Silk Road Medical (NASDAQ:SILK) in a report published on Tuesday morning, Benzinga reports. They currently have a $27.50 target price on the stock, down from their prior target price of $28.00.

Several other research analysts have also weighed in on SILK. Argus upgraded shares of Silk Road Medical from a hold rating to a buy rating and set a $24.00 price objective on the stock in a research note on Thursday, March 7th. Stifel Nicolaus upped 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 note on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Finally, Piper Sandler upped their price target on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Silk Road Medical currently has a consensus rating of Hold and an average price target of $20.85.

Silk Road Medical Stock Up 24.0 %

Shares of SILK stock opened at $26.88 on Tuesday. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52. Silk Road Medical has a 1 year low of $6.08 and a 1 year high of $34.13. The firm’s fifty day moving average price is $20.41 and its two-hundred day moving average price is $16.81. The firm has a market capitalization of $1.06 billion, a P/E ratio of -19.62 and a beta of 1.51.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. The company had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. Silk Road Medical’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.43) EPS. On average, equities analysts predict that Silk Road Medical will post -1.43 EPS for the current fiscal year.

Institutional Trading of Silk Road Medical

A number of institutional investors have recently bought and sold shares of SILK. Wasatch Advisors LP lifted its holdings in shares of Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after acquiring an additional 500,581 shares during the period. Capital World Investors lifted its holdings in shares of Silk Road Medical by 4.9% during the 1st quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after acquiring an additional 145,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Silk Road Medical by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after acquiring an additional 30,726 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares during the period. Finally, Armistice Capital LLC bought a new stake in shares of Silk Road Medical during the 4th quarter worth approximately $21,693,000.

Silk Road Medical Company Profile

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.