The Manufacturers Life Insurance Company Increases Stake in Silk Road Medical, Inc (NASDAQ:SILK)

The Manufacturers Life Insurance Company increased its holdings in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,940 shares of the company’s stock after acquiring an additional 372 shares during the period. The Manufacturers Life Insurance Company’s holdings in Silk Road Medical were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SILK. State Board of Administration of Florida Retirement System lifted its position in Silk Road Medical by 9.9% during the first 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Silk Road Medical by 4.5% in the 1st 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 during the last quarter. PNC Financial Services Group Inc. increased its stake in Silk Road Medical by 1,293.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after buying an additional 2,342 shares during the period. Rhumbline Advisers increased its stake in Silk Road Medical by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 58,016 shares of the company’s stock worth $1,569,000 after buying an additional 5,327 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Silk Road Medical in the 1st quarter valued at about $109,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on SILK. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. 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 report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.00.

Insider Activity

In other news, EVP Kevin M. Klemz sold 2,268 shares of the firm’s 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 owns 162,926 shares of the company’s stock, valued at approximately $4,415,294.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Silk Road Medical Price Performance

Shares of NASDAQ SILK opened at $27.49 on Thursday. The firm has a 50-day simple moving average of $27.30 and a 200-day simple moving average of $24.34. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -20.07 and a beta of 1.53. The company has a quick ratio of 6.69, a current ratio of 7.63 and a debt-to-equity ratio of 0.49. Silk Road Medical, Inc has a 52 week low of $6.08 and a 52 week high of $27.51.

Silk Road Medical (NASDAQ:SILK) last announced its earnings results 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 company had revenue of $51.20 million for 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned ($0.35) EPS. On average, equities analysts predict that Silk Road Medical, Inc will post -1.45 earnings per share for the current fiscal year.

Silk Road Medical 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.