Silk Road Medical (NASDAQ:SILK) PT Raised to $20.00

Silk Road Medical (NASDAQ:SILK) had its price objective upped by Piper Sandler from $18.00 to $20.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also issued reports on SILK. Stifel Nicolaus raised their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, February 29th. Lake Street Capital assumed coverage on Silk Road Medical in a report on Wednesday, January 3rd. They set a buy rating and a $20.00 price objective on the stock. Argus upgraded Silk Road Medical from a hold rating to a buy rating and set a $24.00 target price on the stock in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Silk Road Medical from $10.00 to $19.00 and gave the stock a neutral rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $22.55.

Silk Road Medical Price Performance

SILK stock opened at $20.16 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95. The stock’s 50 day moving average price is $17.63 and its 200 day moving average price is $13.49. The firm has a market cap of $795.11 million, a P/E ratio of -14.72 and a beta of 1.43. Silk Road Medical has a 1 year low of $6.08 and a 1 year high of $44.11.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. The business had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative return on equity of 35.12% and a negative net margin of 29.02%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) earnings per share. On average, sell-side analysts expect that Silk Road Medical will post -1.39 earnings per share for the current fiscal year.

Insider Transactions at Silk Road Medical

In related news, Director Kevin J. Ballinger purchased 11,700 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $16.99 per share, with a total value of $198,783.00. Following the completion of the transaction, the director now owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Kevin J. Ballinger acquired 11,700 shares of Silk Road Medical stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the purchase, the director now directly owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin M. Klemz sold 2,497 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $42,873.49. Following the sale, the executive vice president now owns 165,194 shares of the company’s stock, valued at approximately $2,836,380.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,457 shares of company stock valued at $351,247. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Silk Road Medical

Several institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in Silk Road Medical by 151.5% in the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. lifted 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 last quarter. RiverPark Advisors LLC bought a new position in Silk Road Medical during the 3rd quarter worth $34,000. Nisa Investment Advisors LLC increased its position in Silk Road Medical by 879.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after buying an additional 3,780 shares during the period. Finally, Quest Partners LLC acquired a new stake in Silk Road Medical in the fourth quarter worth $62,000.

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.