Silk Road Medical (NASDAQ:SILK) Hits New 52-Week High at $27.13

Shares of Silk Road Medical, Inc (NASDAQ:SILK) hit a new 52-week high during trading on Thursday . The company traded as high as $27.13 and last traded at $27.10, with a volume of 340360 shares traded. The stock had previously closed at $27.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price 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. Argus cut shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday. Piper Sandler boosted their price target on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Lake Street Capital reissued a “hold” rating and issued a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.85.

Silk Road Medical Stock Down 0.1 %

The business’s fifty day moving average price is $23.24 and its 200 day moving average price is $18.65. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.07 billion, a PE ratio of -19.74 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its stake in shares of Silk Road Medical by 12.4% during the first quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after acquiring an additional 500,581 shares during the period. Capital World Investors increased its stake in shares of Silk Road Medical by 4.9% during the first quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after acquiring an additional 145,000 shares during the period. Vanguard Group Inc. increased its stake in shares of Silk Road Medical by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after acquiring an additional 30,726 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Silk Road Medical by 707.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares during the period. Finally, Armistice Capital LLC acquired a new position in shares of Silk Road Medical during the fourth quarter worth about $21,693,000.

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.