Silk Road Medical, Inc (NASDAQ:SILK) Given Consensus Rating of “Reduce” by Brokerages

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have received a consensus rating of “Reduce” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.29.

A number of research analysts recently commented on the stock. Lake Street Capital reiterated a “hold” rating and issued a $27.50 price target (down previously 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 objective (up previously from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Finally, Argus lowered Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th.

Silk Road Medical Stock Performance

Shares of NASDAQ SILK opened at $27.49 on Friday. The company has a current ratio of 7.63, a quick ratio of 6.69 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.12 billion, a P/E ratio of -20.07 and a beta of 1.53. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $27.51. The stock has a 50 day moving average of $27.22 and a 200-day moving average of $23.74.

Silk Road Medical (NASDAQ:SILK) last released 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 company had revenue of $51.20 million for 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 company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) earnings per share. As a group, equities research analysts predict that Silk Road Medical will post -1.45 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kevin M. Klemz sold 2,268 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Silk Road Medical

A number of large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Silk Road Medical by 1,293.9% in the fourth 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of Silk Road Medical in the 1st quarter valued at approximately $109,000. Rathbones Group PLC bought a new stake in shares of Silk Road Medical during the 2nd quarter valued at approximately $201,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Silk Road Medical during the 2nd quarter worth approximately $251,000. Finally, AQR Capital Management LLC bought a new position in Silk Road Medical in the 2nd quarter valued at approximately $252,000.

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.