Silk Road Medical (NASDAQ:SILK) Sees Strong Trading Volume

Silk Road Medical, Inc (NASDAQ:SILK) saw strong trading volume on Wednesday . 1,057,638 shares changed hands during trading, a decline of 2% from the previous session’s volume of 1,078,475 shares.The stock last traded at $26.88 and had previously closed at $26.90.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Stifel Nicolaus increased their price objective on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of 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 shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, March 7th. Piper Sandler upped their price objective 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. Finally, Lake Street Capital reiterated a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.85.

Silk Road Medical Stock Performance

The firm has a 50 day moving average price of $21.65 and a 200-day moving average price of $17.54. 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 announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The business had revenue of $48.50 million during the quarter, compared to analysts’ expectations of $44.67 million. During the same quarter last year, the business posted ($0.43) EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, analysts anticipate that Silk Road Medical, Inc will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On Silk Road Medical

A number of large investors have recently modified their holdings of SILK. Wasatch Advisors LP grew its stake in shares of Silk Road Medical by 12.4% during the first quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after purchasing an additional 500,581 shares in the last quarter. Capital World Investors boosted its position in shares of Silk Road Medical by 4.9% during the 1st quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after acquiring an additional 145,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Silk Road Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock valued at $53,540,000 after acquiring an additional 30,726 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in Silk Road Medical during the fourth quarter worth approximately $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.