BlackRock Inc. lowered its position in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 19.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,540,429 shares of the company’s stock after selling 622,579 shares during the quarter. BlackRock Inc. owned about 0.07% of Silk Road Medical worth $121,585,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alliancebernstein L.P. raised its stake in Silk Road Medical by 4.9% during the second quarter. Alliancebernstein L.P. now owns 2,403,291 shares of the company’s stock valued at $115,022,000 after buying an additional 112,837 shares in the last quarter. Bamco Inc. NY raised its position 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 worth $84,240,000 after purchasing an additional 187,300 shares during the period. Clearbridge Investments LLC raised its position in shares of 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 purchasing an additional 351,697 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Silk Road Medical by 4.3% during the 2nd quarter. TimesSquare Capital Management LLC now owns 954,750 shares of the company’s stock worth $45,694,000 after purchasing an additional 39,250 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Silk Road Medical by 3.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 903,646 shares of the company’s stock worth $45,770,000 after purchasing an additional 32,464 shares during the period.
In other Silk Road Medical news, insider Andrew S. Davis sold 6,324 shares of the stock in a transaction on Friday, October 1st. The stock was sold at an average price of $53.90, for a total transaction of $340,863.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Erica J. Rogers sold 11,000 shares of the stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $49.12, for a total value of $540,320.00. The disclosure for this sale can be found here. Insiders sold a total of 97,536 shares of company stock valued at $5,221,542 over the last three months. Corporate insiders own 7.70% of the company’s stock.
Shares of SILK stock opened at $53.97 on Thursday. Silk Road Medical, Inc has a 12-month low of $43.11 and a 12-month high of $75.80. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of -38.01 and a beta of 1.51. The business has a 50 day simple moving average of $55.71 and a 200 day simple moving average of $51.86. 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 issued its quarterly earnings data on Thursday, July 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.06. Silk Road Medical had a negative return on equity of 45.52% and a negative net margin of 53.85%. The business had revenue of $26.46 million during the quarter, compared to analyst estimates of $25.33 million. On average, equities analysts anticipate that Silk Road Medical, Inc will post -1.24 EPS for the current fiscal year.
About Silk Road Medical
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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