Wasatch Advisors LP Acquires 500,581 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

Wasatch Advisors LP raised its holdings in Silk Road Medical, Inc (NASDAQ:SILK) by 12.4% in the first quarter, HoldingsChannel.com reports. The firm owned 4,549,742 shares of the company’s stock after purchasing an additional 500,581 shares during the quarter. Wasatch Advisors LP owned about 0.12% of Silk Road Medical worth $83,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SILK. Goldman Sachs Group Inc. boosted its position in shares of Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Silk Road Medical during the 4th quarter worth approximately $21,693,000. Bellevue Group AG boosted its position in shares of Silk Road Medical by 0.4% during the 4th quarter. Bellevue Group AG now owns 1,435,682 shares of the company’s stock worth $17,616,000 after acquiring an additional 5,120 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Silk Road Medical during the 4th quarter worth approximately $17,520,000. Finally, Rings Capital Management LLC acquired a new stake in shares of Silk Road Medical during the 4th quarter worth approximately $10,552,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Argus upgraded shares of 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. Piper Sandler raised their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Lake Street Capital restated a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.85.

Silk Road Medical Trading Up 0.3 %

Shares of SILK stock traded up $0.07 during trading hours on Tuesday, hitting $27.02. 1,173,402 shares of the company’s stock traded hands, compared to its average volume of 1,158,659. The stock’s 50 day simple moving average is $22.23 and its 200 day simple moving average is $18.01. The stock has a market cap of $1.07 billion, a PE ratio of -19.72 and a beta of 1.52. Silk Road Medical, Inc has a 12 month low of $6.08 and a 12 month high of $33.13. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.04. The firm had revenue of $48.50 million during the quarter, compared to the consensus estimate of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) earnings per share. On average, sell-side analysts anticipate that Silk Road Medical, Inc will post -1.43 EPS for the current year.

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.