Russell Investments Group Ltd. Takes $914,000 Position in Silk Road Medical, Inc (NASDAQ:SILK)

Russell Investments Group Ltd. bought a new position in shares of Silk Road Medical, Inc (NASDAQ:SILK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,110 shares of the company’s stock, valued at approximately $914,000. Russell Investments Group Ltd. owned approximately 0.06% of Silk Road Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Silk Road Medical by 5.5% in the 1st quarter. BlackRock Inc. now owns 3,163,008 shares of the company’s stock valued at $160,206,000 after acquiring an additional 163,695 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of Silk Road Medical by 10.5% during the 1st quarter. Wasatch Advisors Inc. now owns 2,907,447 shares of the company’s stock valued at $147,262,000 after purchasing an additional 277,434 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Silk Road Medical by 4.9% during the 2nd quarter. Alliancebernstein L.P. now owns 2,403,291 shares of the company’s stock valued at $115,022,000 after purchasing an additional 112,837 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Silk Road Medical by 12.7% during the 1st quarter. Bamco Inc. NY now owns 1,663,170 shares of the company’s stock valued at $84,240,000 after purchasing an additional 187,300 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Silk Road Medical by 34.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,360,128 shares of the company’s stock valued at $68,890,000 after buying an additional 351,697 shares during the last quarter.

Shares of SILK opened at $55.77 on Tuesday. The firm has a market capitalization of $1.93 billion, a PE ratio of -39.27 and a beta of 1.51. The company’s 50-day moving average is $52.72 and its 200-day moving average is $51.33. Silk Road Medical, Inc has a fifty-two week low of $43.11 and a fifty-two week high of $75.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 9.51 and a quick ratio of 8.75.

Silk Road Medical (NASDAQ:SILK) last posted its quarterly earnings results on Thursday, July 29th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. The company had revenue of $26.46 million for the quarter, compared to the consensus estimate of $25.33 million. Silk Road Medical had a negative net margin of 53.85% and a negative return on equity of 45.52%. Analysts predict that Silk Road Medical, Inc will post -1.24 earnings per share for the current fiscal year.

In other news, insider Andrew S. Davis sold 6,324 shares of the business’s stock in a transaction dated Thursday, July 1st. The stock was sold at an average price of $48.06, for a total transaction of $303,931.44. Following the completion of the transaction, the insider now owns 37,984 shares of the company’s stock, valued at $1,825,511.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lucas W. Buchanan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $51.60, for a total value of $516,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,536 shares of company stock valued at $5,047,730. Insiders own 7.70% of the company’s stock.

Several equities analysts recently issued reports on SILK shares. Piper Sandler cut their price target on shares of Silk Road Medical from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, July 30th. SVB Leerink reiterated an “outperform” rating on shares of Silk Road Medical in a research report on Tuesday, July 20th.

Silk Road Medical Profile

Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.

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Institutional Ownership by Quarter for Silk Road Medical (NASDAQ:SILK)

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