Silk Road Medical, Inc (NASDAQ:SILK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Silk Road Medical, Inc (NASDAQ:SILK) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.85.

SILK has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital reaffirmed a “hold” rating and issued a $27.50 price objective (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Argus raised Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research note on Thursday, March 7th. Finally, Piper Sandler lifted their target price on Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st.

Silk Road Medical Price Performance

Shares of NASDAQ:SILK opened at $27.02 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62. The stock’s 50-day simple moving average is $22.23 and its two-hundred day simple moving average is $18.01. Silk Road Medical has a 52-week low of $6.08 and a 52-week high of $33.13.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The firm had revenue of $48.50 million for the quarter, compared to the consensus estimate of $44.67 million. During the same quarter last year, the company earned ($0.43) earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts forecast that Silk Road Medical will post -1.43 earnings per share for the current year.

Institutional Trading of Silk Road Medical

A number of large investors have recently added to or reduced their stakes in the company. 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 acquiring an additional 1,090 shares during the last quarter. Swiss National Bank increased its stake in Silk Road Medical by 1.7% in the 3rd quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $1,277,000 after acquiring an additional 1,400 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Silk Road Medical by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock worth $640,000 after purchasing an additional 1,490 shares during the period. CWM LLC boosted its holdings in shares of Silk Road Medical by 151.5% in the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after purchasing an additional 1,544 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Silk Road Medical by 1,293.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the period.

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.