Federated Hermes Inc. Buys 9,663 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

Federated Hermes Inc. raised its position in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 965.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,664 shares of the company’s stock after acquiring an additional 9,663 shares during the quarter. Federated Hermes Inc.’s holdings in Silk Road Medical were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Silk Road Medical by 1,293.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the period. Quest Partners LLC bought a new position in shares of Silk Road Medical in the 4th quarter worth about $62,000. SG Americas Securities LLC bought a new position in shares of Silk Road Medical in the 1st quarter worth about $109,000. State Board of Administration of Florida Retirement System lifted its position in 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 acquiring an additional 1,090 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in Silk Road Medical during the first quarter worth about $249,000.

Wall Street Analysts Forecast Growth

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

Insider Activity at Silk Road Medical

In other Silk Road Medical 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 sale, the executive vice president now owns 162,926 shares of the company’s stock, valued at approximately $4,415,294.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by insiders.

Silk Road Medical Stock Down 0.0 %

Silk Road Medical stock opened at $27.49 on Wednesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53. The company has a current ratio of 7.63, a quick ratio of 6.69 and a debt-to-equity ratio of 0.49. Silk Road Medical, Inc has a 12 month low of $6.08 and a 12 month high of $27.51. The stock has a fifty day simple moving average of $27.16 and a two-hundred day simple moving average of $23.27.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The business 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%. Silk Road Medical’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) EPS. Equities analysts predict that Silk Road Medical, Inc will post -1.45 EPS for the current fiscal year.

Silk Road Medical Company Profile

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.