Silk Road Medical (NASDAQ:SILK) Sets New 12-Month High at $69.30

Silk Road Medical Inc (NASDAQ:SILK) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $69.30 and last traded at $69.30, with a volume of 289 shares trading hands. The stock had previously closed at $68.12.

Several equities research analysts recently issued reports on SILK shares. BidaskClub upgraded shares of Silk Road Medical from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. ValuEngine downgraded shares of Silk Road Medical from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. SVB Leerink raised their price objective on shares of Silk Road Medical from $51.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Zacks Investment Research upgraded shares of Silk Road Medical from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Silk Road Medical from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $52.80.

The company has a debt-to-equity ratio of 0.35, a current ratio of 15.50 and a quick ratio of 14.50. The business’s 50-day moving average price is $54.75 and its two-hundred day moving average price is $42.41. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -58.22 and a beta of 1.83.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. Silk Road Medical had a negative net margin of 52.69% and a negative return on equity of 43.15%. The company had revenue of $15.10 million during the quarter, compared to the consensus estimate of $12.37 million. During the same period in the previous year, the business earned ($0.42) earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts predict that Silk Road Medical Inc will post -1.12 EPS for the current year.

In related news, CEO Erica J. Rogers sold 20,044 shares of Silk Road Medical stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $45.42, for a total value of $910,398.48. Following the transaction, the chief executive officer now directly owns 131,652 shares of the company’s stock, valued at $5,979,633.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lucas W. Buchanan sold 9,600 shares of Silk Road Medical stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $45.99, for a total transaction of $441,504.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,237 shares of company stock valued at $5,113,571. 7.80% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in SILK. Capital World Investors bought a new position in Silk Road Medical in the first quarter valued at approximately $55,635,000. Wasatch Advisors Inc. lifted its holdings in Silk Road Medical by 75.5% in the second quarter. Wasatch Advisors Inc. now owns 2,530,599 shares of the company’s stock valued at $106,007,000 after buying an additional 1,088,358 shares during the period. Vanguard Group Inc. lifted its holdings in Silk Road Medical by 59.7% in the second quarter. Vanguard Group Inc. now owns 2,636,550 shares of the company’s stock valued at $110,446,000 after buying an additional 985,681 shares during the period. Invesco Ltd. lifted its holdings in Silk Road Medical by 189.4% in the first quarter. Invesco Ltd. now owns 930,104 shares of the company’s stock valued at $29,279,000 after buying an additional 608,709 shares during the period. Finally, Capital International Investors acquired a new position in Silk Road Medical in the first quarter valued at $10,092,000.

Silk Road Medical Company Profile (NASDAQ:SILK)

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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