Silk Road Medical (NASDAQ:SILK) Sets New 12-Month High at $27.49

Shares of Silk Road Medical, Inc (NASDAQ:SILK) reached a new 52-week high during trading on Friday . The company traded as high as $27.49 and last traded at $27.49, with a volume of 1621425 shares. The stock had previously closed at $27.28.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th. Lake Street Capital reiterated a “hold” rating and issued a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Finally, 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 note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.29.

Silk Road Medical Stock Performance

The firm has a 50 day moving average of $27.09 and a 200-day moving average of $22.71. The company has a market cap of $1.08 billion, a P/E ratio of -20.07 and a beta of 1.53. The company has a quick ratio of 6.69, a current ratio of 7.63 and a debt-to-equity ratio of 0.49.

Silk Road Medical (NASDAQ:SILK) last posted 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). The business had revenue of $51.20 million for the quarter, compared to analysts’ expectations of $49.74 million. Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS. As a group, sell-side analysts anticipate that Silk Road Medical, Inc will post -1.45 EPS for the current fiscal year.

Insider Activity at Silk Road Medical

In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.10, for a total value of $61,462.80. Following the completion of the sale, the executive vice president now directly owns 162,926 shares in the company, valued at $4,415,294.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Silk Road Medical

Several large investors have recently added to or reduced their stakes in SILK. Principal Financial Group Inc. boosted its holdings in shares of Silk Road Medical by 23.2% in the 4th quarter. Principal Financial Group Inc. now owns 33,511 shares of the company’s stock valued at $411,000 after acquiring an additional 6,316 shares during the last quarter. Quest Partners LLC purchased a new stake in Silk Road Medical in the fourth quarter valued at $62,000. Evoke Wealth LLC acquired a new stake in Silk Road Medical during the 4th quarter worth about $482,000. Armistice Capital LLC purchased a new position in shares of Silk Road Medical during the 4th quarter valued at about $21,693,000. Finally, Rubric Capital Management LP acquired a new position in shares of Silk Road Medical in the 4th quarter valued at about $17,520,000.

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.