Brokerages Set Silk Road Medical, Inc (NASDAQ:SILK) Target Price at $20.29

Silk Road Medical, Inc (NASDAQ:SILK) has earned an average rating of “Reduce” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $20.29.

Several analysts have commented on SILK shares. Lake Street Capital reissued a “hold” rating and set a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Stifel Nicolaus reissued a “hold” rating and set a $27.50 price target (up from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Finally, Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th.

Silk Road Medical Stock Up 0.2 %

Shares of Silk Road Medical stock opened at $27.24 on Monday. 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 has a 1 year low of $6.08 and a 1 year high of $27.34. The firm’s 50-day moving average is $27.08 and its two-hundred day moving average is $22.58. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -19.88 and a beta of 1.53.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.04). Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The business had revenue of $51.20 million for the quarter, compared to the consensus estimate of $49.74 million. During the same quarter in the previous year, the company earned ($0.35) earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts expect that Silk Road Medical will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Silk Road Medical

In related news, EVP Kevin M. Klemz sold 2,268 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.10, for a total value of $61,462.80. Following the completion of the transaction, the executive vice president now directly owns 162,926 shares of the company’s stock, valued at approximately $4,415,294.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Silk Road Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in Silk Road Medical by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,940 shares of the company’s stock worth $404,000 after buying an additional 372 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Silk Road Medical by 9.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock worth $221,000 after buying an additional 1,090 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Silk Road Medical by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock worth $640,000 after buying an additional 1,490 shares during the period. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 2,342 shares during the period. Finally, Quest Partners LLC acquired a new position in Silk Road Medical in the 4th quarter worth approximately $62,000.

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.