Silk Road Medical (NASDAQ:SILK) Downgraded to Sell at Argus

Silk Road Medical (NASDAQ:SILK) was downgraded by investment analysts at Argus from a “buy” rating to a “sell” rating in a research note issued to investors on Thursday, MarketBeat.com reports.

Several other research analysts have also recently issued reports on SILK. Lake Street Capital reissued a “hold” rating and set a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price 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. Finally, Piper Sandler upped their price objective on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.06.

Silk Road Medical Trading Up 0.1 %

Shares of SILK stock opened at $27.09 on Thursday. The company has a market capitalization of $1.07 billion, a P/E ratio of -19.77 and a beta of 1.52. 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 business’s 50 day moving average is $23.54 and its two-hundred day moving average is $18.81. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $27.13.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data 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 firm had revenue of $48.50 million for 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 quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted ($0.43) EPS. Equities analysts forecast that Silk Road Medical will post -1.43 EPS for the current year.

Institutional Trading of Silk Road Medical

Several large investors have recently bought and sold shares of the company. Wasatch Advisors LP raised its stake in shares of Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after buying an additional 500,581 shares during the last quarter. Capital World Investors raised its position in 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 last quarter. Vanguard Group Inc. lifted its holdings in shares of Silk Road Medical by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock valued at $53,540,000 after purchasing an additional 30,726 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Silk Road Medical by 707.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after purchasing an additional 1,762,048 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Silk Road Medical during the 4th quarter worth approximately $21,693,000.

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.