Silk Road Medical (NASDAQ:SILK) Downgraded by Argus to Sell

Silk Road Medical (NASDAQ:SILK) was downgraded by Argus from a “buy” rating to a “sell” rating in a report released on Thursday, Marketbeat Ratings reports.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler raised their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.85.

Silk Road Medical Trading Up 0.3 %

NASDAQ SILK opened at $27.05 on Thursday. The firm’s 50-day moving average is $23.24 and its two-hundred day moving average is $18.65. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $33.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62. The stock has a market capitalization of $1.07 billion, a P/E ratio of -19.74 and a beta of 1.52.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $44.67 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. Silk Road Medical’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Silk Road Medical will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On Silk Road Medical

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in Silk Road Medical by 151.5% in the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after acquiring an additional 1,544 shares during the period. PNC Financial Services Group Inc. increased its position in Silk Road Medical by 1,293.9% during 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in Silk Road Medical by 879.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock valued at $52,000 after buying an additional 3,780 shares during the period. Quest Partners LLC purchased a new stake in Silk Road Medical in the 4th quarter valued at about $62,000. Finally, Tower Research Capital LLC TRC grew its holdings in Silk Road Medical by 369.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock valued at $96,000 after buying an additional 6,165 shares during the period.

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.