First Eagle Investment Management LLC Increases Position in Silk Road Medical, Inc (NASDAQ:SILK)

First Eagle Investment Management LLC lifted its stake in Silk Road Medical, Inc (NASDAQ:SILK) by 135.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,220 shares of the company’s stock after acquiring an additional 118,625 shares during the period. First Eagle Investment Management LLC owned 0.52% of Silk Road Medical worth $5,576,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Armistice Capital LLC bought a new stake in shares of Silk Road Medical in the 4th quarter valued at about $21,693,000. Goldman Sachs Group Inc. boosted its stake in Silk Road Medical by 707.8% in the fourth 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 in the last quarter. Rubric Capital Management LP acquired a new stake in Silk Road Medical in the fourth quarter valued at approximately $17,520,000. Kennedy Capital Management LLC purchased a new position in Silk Road Medical in the first quarter worth $18,981,000. Finally, Rings Capital Management LLC purchased a new stake in shares of Silk Road Medical during the 4th quarter valued at $10,552,000.

Wall Street Analyst Weigh In

SILK has been the topic of several research analyst reports. Lake Street Capital restated a “hold” rating and set a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Stifel Nicolaus restated a “hold” rating and set a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a research note 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. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, Silk Road Medical has an average rating of “Hold” and a consensus target price of $20.29.

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 transaction of $61,462.80. Following the sale, 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 available through the SEC website. 3.90% of the stock is currently owned by insiders.

Silk Road Medical Stock Performance

Silk Road Medical stock opened at $27.49 on Friday. The stock has a 50-day moving average price of $27.14 and a 200 day moving average price of $23.02. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53. Silk Road Medical, Inc has a 52 week low of $6.08 and a 52 week high of $27.51. 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 quarterly earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share (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 return on equity of 37.30% and a negative net margin of 29.53%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) earnings per share. Sell-side analysts anticipate that Silk Road Medical, Inc will post -1.45 EPS for the current year.

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.