Apis Capital Advisors LLC Buys Shares of 102,200 Silk Road Medical, Inc (NASDAQ:SILK)

Apis Capital Advisors LLC bought a new stake in shares of Silk Road Medical, Inc (NASDAQ:SILK) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 102,200 shares of the company’s stock, valued at approximately $2,763,000. Silk Road Medical comprises about 2.0% of Apis Capital Advisors LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings 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 valued at $31,000 after acquiring an additional 2,342 shares during the period. Quest Partners LLC purchased a new stake in shares of Silk Road Medical during the fourth quarter valued at $62,000. SG Americas Securities LLC purchased a new stake in shares of Silk Road Medical during the first quarter valued at $109,000. Rathbones Group PLC bought a new position in shares of Silk Road Medical in the second quarter worth about $201,000. Finally, State Board of Administration of Florida Retirement System increased its stake 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.

Wall Street Analyst Weigh In

SILK has been the subject of several research reports. Lake Street Capital reissued a “hold” rating and issued 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 shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price objective (up previously from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.29.

Insider Buying and Selling

In related news, EVP Kevin M. Klemz sold 2,268 shares of the firm’s 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 owns 162,926 shares of the company’s stock, valued at $4,415,294.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by company insiders.

Silk Road Medical Price Performance

Shares of SILK opened at $27.49 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.69 and a current ratio of 7.63. The company has a 50 day moving average price of $27.14 and a 200-day moving average price of $23.12. Silk Road Medical, Inc has a fifty-two week low of $6.08 and a fifty-two week high of $27.51. The stock has a market capitalization of $1.12 billion, a PE ratio of -20.07 and a beta of 1.53.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. Equities analysts predict that Silk Road Medical, Inc will post -1.45 earnings per share for the current fiscal year.

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.