Silk Road Medical (SILK) Scheduled to Post Quarterly Earnings on Tuesday

Silk Road Medical (NASDAQ:SILK) is set to announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of ($0.40) per share for the quarter. Silk Road Medical has set its FY 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Wednesday, February 28th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The firm had revenue of $47.27 million for the quarter, compared to the consensus estimate of $42.23 million. Silk Road Medical had a negative net margin of 31.70% and a negative return on equity of 36.38%. On average, analysts expect Silk Road Medical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Silk Road Medical Trading Up 0.8 %

NASDAQ SILK opened at $17.80 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 7.95 and a quick ratio of 6.97. The firm’s fifty day moving average price is $17.52 and its 200 day moving average price is $13.23. The company has a market capitalization of $697.23 million, a price-to-earnings ratio of -12.36 and a beta of 1.48. Silk Road Medical has a 12 month low of $6.08 and a 12 month high of $45.08.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SILK shares. Stifel Nicolaus increased their target price on shares of Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, March 7th. Lake Street Capital began coverage on shares of Silk Road Medical in a research report on Wednesday, January 3rd. They set a “buy” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, Piper Sandler raised their price objective on shares of Silk Road Medical from $11.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Silk Road Medical presently has an average rating of “Hold” and a consensus price target of $22.18.

Insider Activity

In related news, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $94,108.77. Following the completion of the sale, the insider now owns 287,773 shares in the company, valued at $4,941,062.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kevin M. Klemz sold 2,497 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $42,873.49. Following the completion of the sale, the executive vice president now owns 165,194 shares in the company, valued at $2,836,380.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew S. Davis sold 5,481 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the completion of the sale, the insider now owns 287,773 shares of the company’s stock, valued at approximately $4,941,062.41. The disclosure for this sale can be found here. Insiders have sold a total of 20,457 shares of company stock valued at $351,247 over the last quarter. Corporate insiders own 6.70% of the company’s stock.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.