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

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

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital reaffirmed a “hold” rating and set a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Piper Sandler lifted their price target on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Two 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.com, the company currently has a consensus rating of “Hold” and an average price target of $20.06.

Silk Road Medical Trading Up 0.1 %

Silk Road Medical stock opened at $27.09 on Thursday. The firm has a market cap of $1.07 billion, a PE ratio of -19.77 and a beta of 1.52. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $27.13. The stock’s 50 day simple moving average is $23.54 and its two-hundred day simple moving average is $18.81. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The firm had revenue of $48.50 million for the quarter, compared to the consensus estimate of $44.67 million. During the same period in the prior year, the firm posted ($0.43) earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Silk Road Medical will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Silk Road Medical

A number of institutional investors and hedge funds have recently bought and sold shares of SILK. Federated Hermes Inc. purchased a new position in Silk Road Medical in the 4th quarter worth approximately $5,789,000. Birchview Capital LP boosted its stake in Silk Road Medical by 282.8% during the fourth quarter. Birchview Capital LP now owns 158,094 shares of the company’s stock worth $1,940,000 after buying an additional 116,800 shares during the last quarter. Nebula Research & Development LLC grew its holdings in Silk Road Medical by 481.3% in the 4th quarter. Nebula Research & Development LLC now owns 70,590 shares of the company’s stock valued at $866,000 after buying an additional 58,447 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Silk Road Medical by 12.4% in the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after acquiring an additional 500,581 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Silk Road Medical during the 3rd quarter worth $299,000.

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.