Argus Cuts Silk Road Medical (NASDAQ:SILK) Price Target to $55.00

Silk Road Medical (NASDAQ:SILKGet Rating) had its price target reduced by Argus from $70.00 to $55.00 in a research note published on Monday, The Fly reports.

A number of other brokerages have also recently issued reports on SILK. B. Riley initiated coverage on Silk Road Medical in a report on Friday, March 31st. They set a buy rating and a $58.00 price objective on the stock. Citigroup lowered their target price on shares of Silk Road Medical from $50.00 to $48.00 in a research note on Wednesday, May 10th. Wolfe Research cut shares of Silk Road Medical from a peer perform rating to an underperform rating and set a $27.00 target price on the stock. in a research note on Monday, May 15th. Stifel Nicolaus lowered their target price on shares of Silk Road Medical from $60.00 to $50.00 in a research note on Wednesday, May 10th. Finally, Piper Sandler lowered their target price on shares of Silk Road Medical from $46.00 to $41.00 in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $48.25.

Silk Road Medical Trading Down 7.5 %

SILK opened at $29.92 on Monday. The firm has a 50-day moving average price of $39.76 and a 200-day moving average price of $47.44. Silk Road Medical has a twelve month low of $29.28 and a twelve month high of $58.04. The company has a current ratio of 11.03, a quick ratio of 10.21 and a debt-to-equity ratio of 0.47.

Silk Road Medical (NASDAQ:SILKGet Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). The business had revenue of $40.13 million for the quarter, compared to analysts’ expectations of $40.69 million. Silk Road Medical had a negative net margin of 36.47% and a negative return on equity of 50.13%. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.48) earnings per share. As a group, analysts predict that Silk Road Medical will post -1.53 EPS for the current year.

Insider Activity at Silk Road Medical

In related news, CEO Erica J. Rogers sold 18,043 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $47.10, for a total transaction of $849,825.30. Following the transaction, the chief executive officer now directly owns 269,132 shares of the company’s stock, valued at approximately $12,676,117.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Erica J. Rogers sold 18,043 shares of Silk Road Medical stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $47.10, for a total value of $849,825.30. Following the transaction, the chief executive officer now owns 269,132 shares in the company, valued at approximately $12,676,117.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lucas W. Buchanan sold 9,918 shares of Silk Road Medical stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $47.11, for a total value of $467,236.98. Following the completion of the transaction, the chief financial officer now directly owns 205,575 shares in the company, valued at $9,684,638.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,461 shares of company stock valued at $3,523,672. Corporate insiders own 7.66% of the company’s stock.

Institutional Investors Weigh In On Silk Road Medical

Several institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Silk Road Medical by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 466 shares of the company’s stock worth $25,000 after buying an additional 222 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of Silk Road Medical in the 3rd quarter worth about $30,000. MCF Advisors LLC purchased a new stake in shares of Silk Road Medical in the 3rd quarter worth about $43,000. Quarry LP lifted its position in shares of Silk Road Medical by 535.1% in the 1st quarter. Quarry LP now owns 978 shares of the company’s stock worth $38,000 after purchasing an additional 824 shares during the period. Finally, US Bancorp DE lifted its position in shares of Silk Road Medical by 41.3% in the 1st quarter. US Bancorp DE now owns 1,673 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 96.43% of the company’s stock.

Silk Road Medical Company Profile

(Get Rating)

Silk Road Medical, Inc engages in the development and manufacturing of 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.

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