Sagefield Capital LP Invests $1.58 Million in Silk Road Medical, Inc (NASDAQ:SILK)

Sagefield Capital LP purchased a new stake in Silk Road Medical, Inc (NASDAQ:SILK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,400 shares of the company’s stock, valued at approximately $1,579,000. Sagefield Capital LP owned 0.14% of Silk Road Medical at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Apis Capital Advisors LLC bought a new stake in shares of Silk Road Medical during the second quarter worth about $2,763,000. Magnetar Financial LLC acquired a new position in Silk Road Medical during the 2nd quarter valued at about $53,279,000. Gabelli Funds LLC boosted its stake in Silk Road Medical by 338.3% during the 2nd quarter. Gabelli Funds LLC now owns 330,423 shares of the company’s stock valued at $8,935,000 after purchasing an additional 255,031 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Silk Road Medical in the second quarter worth approximately $389,000. Finally, XTX Topco Ltd purchased a new stake in shares of Silk Road Medical in the second quarter worth approximately $276,000.

Insider Activity

In related news, EVP Kevin M. Klemz sold 2,268 shares of Silk Road Medical stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.10, for a total value of $61,462.80. Following the completion of the transaction, the executive vice president now directly owns 162,926 shares in the company, valued at approximately $4,415,294.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

Silk Road Medical Price Performance

Silk Road Medical stock opened at $27.49 on Tuesday. The company has a current ratio of 7.63, a quick ratio of 6.69 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $27.15 and its 200 day simple moving average is $23.20. Silk Road Medical, Inc has a 12 month low of $6.08 and a 12 month high of $27.51. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The firm had revenue of $51.20 million during the quarter, compared to analysts’ expectations of $49.74 million. Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted ($0.35) EPS. Sell-side analysts forecast that Silk Road Medical, Inc will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Lake Street Capital reiterated a “hold” rating and set a $27.50 price target (down previously from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $27.50 price target (up from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.29.

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.