Silk Road Medical, Inc (NASDAQ:SILK) Receives Average Recommendation of “Reduce” from Analysts

Silk Road Medical, Inc (NASDAQ:SILK) has been given a consensus rating of “Reduce” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.50.

A number of brokerages have issued reports on SILK. Piper Sandler raised their price target on shares of Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Lake Street Capital reissued a “hold” rating and issued a $27.50 price target (down previously from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st.

Institutional Investors Weigh In On Silk Road Medical

A number of large investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its stake in shares of Silk Road Medical by 9.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock valued at $221,000 after purchasing an additional 1,090 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Silk Road Medical by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,905 shares of the company’s stock worth $640,000 after acquiring an additional 1,490 shares in the last quarter. CWM LLC boosted its stake in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after acquiring an additional 1,544 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Silk Road Medical by 1,293.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after acquiring an additional 2,342 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Silk Road Medical by 879.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after acquiring an additional 3,780 shares in the last quarter.

Silk Road Medical Stock Performance

Shares of NASDAQ:SILK opened at $27.02 on Friday. The company’s fifty day moving average is $24.75 and its 200 day moving average is $19.90. Silk Road Medical has a 52 week low of $6.08 and a 52 week high of $27.19. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The company had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) EPS. As a group, equities research analysts predict that Silk Road Medical will post -1.43 EPS for the current fiscal year.

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.