Versor Investments LP Makes New Investment in Silk Road Medical, Inc (NASDAQ:SILK)

Versor Investments LP acquired a new stake in shares of Silk Road Medical, Inc (NASDAQ:SILK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 31,724 shares of the company’s stock, valued at approximately $858,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of Silk Road Medical by 151.5% in the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after purchasing an additional 1,544 shares during the period. PNC Financial Services Group Inc. lifted its holdings in 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 buying an additional 2,342 shares in the last quarter. Quest Partners LLC purchased a new position in Silk Road Medical in the 4th quarter valued at about $62,000. SG Americas Securities LLC acquired a new stake in shares of Silk Road Medical during the first quarter valued at about $109,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Silk Road Medical by 9.9% during the first 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.

Silk Road Medical Stock Performance

Shares of SILK opened at $27.11 on Tuesday. The stock has a market capitalization of $1.10 billion, a PE ratio of -19.79 and a beta of 1.52. The business’s fifty day moving average price is $27.06 and its 200 day moving average price is $22.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69. Silk Road Medical, Inc has a 12-month low of $6.08 and a 12-month high of $27.34.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The business had revenue of $51.20 million during the quarter, compared to the consensus estimate of $49.74 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Silk Road Medical, Inc will post -1.44 EPS for the current year.

Insiders Place Their Bets

In other 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 directly owns 162,926 shares in the company, valued at approximately $4,415,294.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SILK. Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Lake Street Capital reiterated a “hold” rating and set a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Argus downgraded shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Silk Road Medical currently has an average rating of “Hold” and a consensus target price of $21.50.

Silk Road Medical 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.