Silk Road Medical Inc (NASDAQ:SILK) Given Average Rating of “Buy” by Analysts

Shares of Silk Road Medical Inc (NASDAQ:SILK) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.50.

SILK has been the subject of several research reports. Argus assumed coverage on shares of Silk Road Medical in a report on Tuesday, August 20th. They issued a “buy” rating and a $52.00 price target for the company. Zacks Investment Research raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Saturday, November 2nd.

In other news, major shareholder Pincus & Co. Warburg sold 1,500,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $35.00, for a total transaction of $52,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew S. Davis sold 6,635 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $35.70, for a total transaction of $236,869.50. Following the completion of the sale, the executive vice president now directly owns 20,175 shares in the company, valued at approximately $720,247.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,582,913 shares of company stock valued at $55,490,361 in the last 90 days.

A number of institutional investors have recently bought and sold shares of SILK. FNY Investment Advisers LLC bought a new position in Silk Road Medical in the 2nd quarter worth about $70,000. Strs Ohio acquired a new stake in Silk Road Medical in the 2nd quarter valued at approximately $92,000. Steward Partners Investment Advisory LLC bought a new stake in Silk Road Medical during the 2nd quarter valued at $84,000. Advisor Group Inc. bought a new stake in Silk Road Medical during the 2nd quarter valued at $78,000. Finally, Janus Henderson Group PLC acquired a new position in Silk Road Medical during the 2nd quarter worth $18,751,000. 85.95% of the stock is owned by hedge funds and other institutional investors.

SILK traded up $0.01 during trading hours on Thursday, hitting $34.93. 297,542 shares of the stock were exchanged, compared to its average volume of 278,913. The stock has a 50-day simple moving average of $35.20 and a 200-day simple moving average of $39.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 9.86 and a current ratio of 10.61. Silk Road Medical has a 12 month low of $27.83 and a 12 month high of $51.50.

Silk Road Medical (NASDAQ:SILK) last released its earnings results on Tuesday, October 29th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.01. The business had revenue of $17.00 million for the quarter, compared to the consensus estimate of $15.93 million. The company’s revenue for the quarter was up 77.1% compared to the same quarter last year. Equities research analysts forecast that Silk Road Medical will post -7.82 EPS for the current year.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. It offers 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 with clinical data regarding lasting safety outcomes; 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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Analyst Recommendations for Silk Road Medical (NASDAQ:SILK)

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