Silk Road Medical (NASDAQ:SILK) Sees Unusually-High Trading Volume

Shares of Silk Road Medical, Inc (NASDAQ:SILK) saw unusually-high trading volume on Thursday . Approximately 691,033 shares changed hands during trading, a decline of 27% from the previous session’s volume of 945,212 shares.The stock last traded at $26.83 and had previously closed at $26.88.

Analysts Set New Price Targets

SILK has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Argus upgraded Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, March 7th. Piper Sandler lifted their price objective on 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 reiterated a “hold” rating and issued a $27.50 price objective (down from $28.00) on shares of Silk Road Medical in a report on Tuesday. Finally, Stifel Nicolaus lifted their price objective on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Silk Road Medical has an average rating of “Hold” and a consensus target price of $20.85.

Silk Road Medical Stock Performance

The stock has a fifty day moving average of $20.92 and a 200 day moving average of $17.07. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. The firm had revenue of $48.50 million during the quarter, compared to the consensus estimate of $44.67 million. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. As a group, equities analysts forecast that Silk Road Medical, Inc will post -1.42 earnings per share for the current year.

Institutional Trading of Silk Road Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock valued at $83,351,000 after buying an additional 500,581 shares during the period. Capital World Investors increased its stake in Silk Road Medical by 4.9% in the first quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after purchasing an additional 145,000 shares during the period. Vanguard Group Inc. increased its stake in Silk Road Medical by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after purchasing an additional 30,726 shares during the period. Goldman Sachs Group Inc. increased its stake in Silk Road Medical by 707.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after purchasing an additional 1,762,048 shares during the period. Finally, Armistice Capital LLC purchased a new stake in Silk Road Medical in the fourth quarter worth $21,693,000.

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.