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

Silk Road Medical, Inc (NASDAQ:SILK) has been given a consensus recommendation of “Reduce” by the ten research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.60.

Several brokerages have recently weighed in on SILK. Stifel Nicolaus lowered shares of Silk Road Medical from a “buy” rating to a “hold” rating and cut their price objective for the stock from $45.00 to $12.00 in a report on Wednesday, October 11th. Oppenheimer began coverage on shares of Silk Road Medical in a report on Tuesday, September 5th. They set an “outperform” rating and a $30.00 price objective on the stock. Citigroup lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating and cut their price objective for the stock from $35.00 to $8.00 in a report on Wednesday, October 11th. B. Riley lowered shares of Silk Road Medical from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $54.00 to $14.00 in a report on Wednesday, October 11th. Finally, Argus lowered shares of Silk Road Medical from a “buy” rating to a “hold” rating in a report on Thursday, September 21st.

Insider Buying and Selling at Silk Road Medical

In other Silk Road Medical news, CFO Lucas W. Buchanan sold 2,662 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $15.22, for a total value of $40,515.64. Following the completion of the sale, the chief financial officer now owns 435,848 shares of the company’s stock, valued at $6,633,606.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Silk Road Medical

Several large investors have recently bought and sold shares of SILK. PNC Financial Services Group Inc. grew its position in Silk Road Medical by 91.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock valued at $25,000 after acquiring an additional 222 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Silk Road Medical during the third quarter worth approximately $34,000. Quarry LP grew its position in shares of Silk Road Medical by 535.1% during the first quarter. Quarry LP now owns 978 shares of the company’s stock worth $38,000 after buying an additional 824 shares in the last quarter. US Bancorp DE grew its position in shares of Silk Road Medical by 41.3% during the first quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after buying an additional 489 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Silk Road Medical by 12.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,829 shares of the company’s stock worth $97,000 after buying an additional 209 shares in the last quarter.

Silk Road Medical Price Performance

NASDAQ:SILK opened at $8.29 on Tuesday. The firm has a market cap of $322.85 million, a price-to-earnings ratio of -5.72 and a beta of 1.31. The company has a current ratio of 10.03, a quick ratio of 9.11 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $10.95 and its two-hundred day moving average is $21.39. Silk Road Medical has a 12-month low of $6.08 and a 12-month high of $58.04.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.03. The business had revenue of $44.44 million for the quarter, compared to analyst estimates of $44.40 million. Silk Road Medical had a negative net margin of 32.81% and a negative return on equity of 35.40%. Research analysts expect that Silk Road Medical will post -1.5 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. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a specialty balloon for the TCAR procedure.