Silk Road Medical, Inc (NASDAQ:SILK) Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 338.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 330,423 shares of the company’s stock after purchasing an additional 255,031 shares during the quarter. Gabelli Funds LLC owned 0.81% of Silk Road Medical worth $8,935,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake 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 worth $411,000 after acquiring an additional 6,316 shares during the period. Quest Partners LLC acquired a new stake in Silk Road Medical in the fourth quarter valued at about $62,000. Evoke Wealth LLC purchased a new stake in Silk Road Medical in the 4th quarter valued at approximately $482,000. Armistice Capital LLC acquired a new position in Silk Road Medical during the 4th quarter worth approximately $21,693,000. Finally, Rubric Capital Management LP acquired a new position in Silk Road Medical during the 4th quarter worth approximately $17,520,000.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SILK. Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price target (up from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. 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 report on Tuesday, June 18th. Finally, Argus cut shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.29.

Silk Road Medical Trading Down 0.0 %

Shares of SILK stock opened at $27.49 on Tuesday. The stock has a market cap of $1.12 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, Inc has a fifty-two week low of $6.08 and a fifty-two week high of $27.51. The business has a fifty day simple moving average of $27.15 and a 200-day simple moving average of $23.20.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate 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 business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. On average, analysts forecast that Silk Road Medical, Inc will post -1.45 earnings per share for the current fiscal 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.