California State Teachers Retirement System Trims Stake in Silk Road Medical, Inc (NASDAQ:SILK)

California State Teachers Retirement System cut its position in Silk Road Medical, Inc (NASDAQ:SILK) by 38.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,864 shares of the company’s stock after selling 2,461 shares during the quarter. California State Teachers Retirement System’s holdings in Silk Road Medical were worth $71,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new stake in Silk Road Medical in the fourth quarter valued at approximately $21,693,000. Goldman Sachs Group Inc. increased its holdings in shares of Silk Road Medical by 707.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after acquiring an additional 1,762,048 shares during the period. Rubric Capital Management LP purchased a new stake in Silk Road Medical in the 4th quarter valued at $17,520,000. Kennedy Capital Management LLC acquired a new stake in Silk Road Medical during the 1st quarter worth $18,981,000. Finally, Rings Capital Management LLC purchased a new position in Silk Road Medical during the 4th quarter worth $10,552,000.

Silk Road Medical Stock Down 0.1 %

SILK opened at $27.08 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69. Silk Road Medical, Inc has a 12 month low of $6.08 and a 12 month high of $27.23. The stock has a market capitalization of $1.10 billion, a P/E ratio of -19.77 and a beta of 1.52. The business has a 50 day simple moving average of $26.52 and a 200-day simple moving average of $21.37.

Silk Road Medical (NASDAQ:SILK) last released its earnings results on Wednesday, August 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. The business had revenue of $51.20 million during the quarter, compared to analyst estimates of $49.74 million. During the same period last year, the business posted ($0.35) EPS. Silk Road Medical’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that Silk Road Medical, Inc will post -1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler upped 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. Stifel Nicolaus restated a “hold” rating and issued a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Lake Street Capital reaffirmed a “hold” rating and set a $27.50 price objective (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Argus downgraded Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.50.

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.