Wasatch Advisors LP Purchases 500,581 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

Wasatch Advisors LP raised its position in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 12.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,549,742 shares of the company’s stock after acquiring an additional 500,581 shares during the period. Wasatch Advisors LP owned approximately 11.62% of Silk Road Medical worth $83,351,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of Silk Road Medical in the fourth quarter valued at about $5,789,000. Birchview Capital LP lifted its stake in shares of Silk Road Medical by 282.8% in the fourth quarter. Birchview Capital LP now owns 158,094 shares of the company’s stock valued at $1,940,000 after buying an additional 116,800 shares during the period. Nebula Research & Development LLC lifted its stake in shares of Silk Road Medical by 481.3% in the fourth quarter. Nebula Research & Development LLC now owns 70,590 shares of the company’s stock valued at $866,000 after buying an additional 58,447 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Silk Road Medical in the third quarter valued at about $299,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Silk Road Medical by 369.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock valued at $96,000 after buying an additional 6,165 shares during the period.

Silk Road Medical Price Performance

Shares of Silk Road Medical stock traded up $0.07 during midday trading on Tuesday, reaching $27.02. The company had a trading volume of 1,173,402 shares, compared to its average volume of 1,158,659. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -19.72 and a beta of 1.52. The stock has a fifty day simple moving average of $22.23 and a 200 day simple moving average of $18.01. Silk Road Medical, Inc has a 1-year low of $6.08 and a 1-year high of $33.13.

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

Analysts Set New Price Targets

SILK has been the subject of several research reports. Piper Sandler increased their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Argus upgraded shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Lake Street Capital restated a “hold” rating and set a $27.50 price target (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.85.

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.