US Bancorp DE Purchases 508 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

US Bancorp DE boosted its stake in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 120.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 930 shares of the company’s stock after buying an additional 508 shares during the period. US Bancorp DE’s holdings in Silk Road Medical were worth $44,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Silk Road Medical by 5.5% during the 1st quarter. BlackRock Inc. now owns 3,163,008 shares of the company’s stock worth $160,206,000 after buying an additional 163,695 shares during the period. Wasatch Advisors Inc. raised its holdings in Silk Road Medical by 10.5% during the 1st quarter. Wasatch Advisors Inc. now owns 2,907,447 shares of the company’s stock worth $147,262,000 after buying an additional 277,434 shares during the period. Alliancebernstein L.P. raised its holdings in Silk Road Medical by 4.9% during the 2nd quarter. Alliancebernstein L.P. now owns 2,403,291 shares of the company’s stock worth $115,022,000 after buying an additional 112,837 shares during the period. Bamco Inc. NY raised its holdings in Silk Road Medical by 12.7% during the 1st quarter. Bamco Inc. NY now owns 1,663,170 shares of the company’s stock worth $84,240,000 after buying an additional 187,300 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Silk Road Medical by 34.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,360,128 shares of the company’s stock worth $68,890,000 after buying an additional 351,697 shares during the period.

NASDAQ SILK opened at $57.06 on Wednesday. The company has a quick ratio of 8.75, a current ratio of 9.51 and a debt-to-equity ratio of 0.51. Silk Road Medical, Inc has a 12-month low of $43.11 and a 12-month high of $75.80. The company has a market capitalization of $1.98 billion, a PE ratio of -40.18 and a beta of 1.51. The firm’s 50 day moving average is $52.93 and its 200-day moving average is $51.36.

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

In related news, CFO Lucas W. Buchanan sold 10,000 shares of the firm’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $51.60, for a total value of $516,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Ruedy sold 15,407 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $55.00, for a total transaction of $847,385.00. Following the completion of the transaction, the executive vice president now directly owns 125,368 shares of the company’s stock, valued at $6,895,240. The disclosure for this sale can be found here. Insiders sold 97,536 shares of company stock worth $5,047,730 over the last quarter. 7.70% of the stock is owned by corporate insiders.

SILK has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Silk Road Medical from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, July 30th. SVB Leerink restated an “outperform” rating on shares of Silk Road Medical in a 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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