Silk Road Medical, Inc (NASDAQ:SILK) Receives $20.85 Average PT from Analysts

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.85.

SILK has been the topic of several research reports. Piper Sandler boosted their target price on Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital reiterated a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. 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 note on Thursday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st.

Hedge Funds Weigh In On Silk Road Medical

A number of large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in Silk Road Medical by 9.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock valued at $221,000 after buying an additional 1,090 shares during the period. Swiss National Bank lifted its stake in shares of Silk Road Medical by 1.7% in the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $1,277,000 after acquiring an additional 1,400 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Silk Road Medical by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock valued at $640,000 after acquiring an additional 1,490 shares during the period. CWM LLC grew its position in Silk Road Medical by 151.5% during the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Silk Road Medical by 1,293.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the period.

Silk Road Medical Stock Up 0.5 %

Shares of NASDAQ:SILK opened at $27.04 on Wednesday. Silk Road Medical has a 1 year low of $6.08 and a 1 year high of $33.13. The company has a market capitalization of $1.07 billion, a PE ratio of -19.74 and a beta of 1.51. The business has a fifty day moving average price of $21.85 and a two-hundred day moving average price of $17.67. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62.

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

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.