Wolfe Research started coverage on shares of Silk Road Medical (NASDAQ:SILK – Get Rating) in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $48.00 target price on the stock.
A number of other equities analysts have also recently weighed in on SILK. Zacks Investment Research raised shares of Silk Road Medical from a sell rating to a hold rating in a research report on Friday, April 1st. Piper Sandler raised their price objective on shares of Silk Road Medical from $38.00 to $43.00 and gave the company a neutral rating in a report on Monday. Finally, Citigroup dropped their target price on shares of Silk Road Medical from $45.00 to $37.00 and set a neutral rating on the stock in a research report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Silk Road Medical presently has an average rating of Hold and a consensus price target of $48.50.
NASDAQ SILK opened at $43.76 on Tuesday. The company has a fifty day moving average of $35.65 and a 200 day moving average of $43.37. The company has a market capitalization of $1.53 billion, a PE ratio of -30.39 and a beta of 1.59. Silk Road Medical has a 1 year low of $27.21 and a 1 year high of $67.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 5.49 and a quick ratio of 4.81.
Silk Road Medical (NASDAQ:SILK – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.02). Silk Road Medical had a negative return on equity of 54.63% and a negative net margin of 49.09%. The company had revenue of $28.27 million for the quarter, compared to analyst estimates of $25.91 million. During the same quarter last year, the company earned ($0.49) EPS. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts expect that Silk Road Medical will post -1.58 earnings per share for the current year.
In other news, CEO Erica J. Rogers sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 11th. The shares were sold at an average price of $41.88, for a total transaction of $418,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new position in shares of Silk Road Medical in the fourth quarter worth about $25,000. Rather & Kittrell Inc. bought a new position in Silk Road Medical during the fourth quarter worth $29,000. Horan Securities Inc. bought a new position in Silk Road Medical during the fourth quarter worth $37,000. Assetmark Inc. bought a new position in Silk Road Medical during the third quarter worth $69,000. Finally, Citigroup Inc. increased its holdings in Silk Road Medical by 74.0% in the 3rd quarter. Citigroup Inc. now owns 4,676 shares of the company’s stock valued at $257,000 after buying an additional 1,988 shares during the period.
About Silk Road Medical (Get Rating)
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. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
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