Bamco Inc. NY Has $27.48 Million Stake in Silk Road Medical, Inc (NASDAQ:SILK)

Bamco Inc. NY grew its holdings in Silk Road Medical, Inc (NASDAQ:SILK) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,500,170 shares of the company’s stock after buying an additional 328,114 shares during the period. Bamco Inc. NY owned 3.80% of Silk Road Medical worth $27,483,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after purchasing an additional 500,581 shares during the last quarter. Capital World Investors lifted its holdings in Silk Road Medical by 4.9% during the 1st quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after purchasing an additional 145,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Silk Road Medical by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after purchasing an additional 30,726 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 1,762,048 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in Silk Road Medical during the 4th quarter worth approximately $21,693,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Argus lowered Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Piper Sandler raised their price objective on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stifel Nicolaus restated a “hold” rating and set a $27.50 price objective (up previously from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Finally, Lake Street Capital restated a “hold” rating and set a $27.50 price objective (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Silk Road Medical currently has a consensus rating of “Hold” and an average price target of $21.50.

Silk Road Medical Price Performance

Shares of SILK traded up $0.01 during midday trading on Friday, hitting $27.02. The company’s stock had a trading volume of 1,077,613 shares, compared to its average volume of 1,237,167. Silk Road Medical, Inc has a one year low of $6.08 and a one year high of $27.19. The company’s fifty day simple moving average is $24.75 and its two-hundred day simple moving average is $19.94. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -19.72 and a beta of 1.52.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping 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 35.47% and a negative net margin of 29.02%. Silk Road Medical’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) EPS. As a group, equities analysts expect that Silk Road Medical, Inc will post -1.43 earnings per share for the current fiscal year.

Silk Road Medical 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.