10,418 Shares in Silk Road Medical, Inc (NASDAQ:SILK) Bought by Arizona State Retirement System

Arizona State Retirement System purchased a new position 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 fund purchased 10,418 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SILK. PNC Financial Services Group Inc. boosted its stake in Silk Road Medical by 1,293.9% during the 4th 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 last quarter. Quest Partners LLC acquired a new stake in Silk Road Medical during the 4th quarter worth $62,000. SG Americas Securities LLC acquired a new stake in Silk Road Medical during the 1st quarter worth $109,000. State Board of Administration of Florida Retirement System boosted its stake 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 worth $221,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Silk Road Medical during the 1st quarter worth $249,000.

Silk Road Medical Price Performance

Shares of NASDAQ:SILK opened at $27.49 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69. The firm has a market capitalization of $1.12 billion, a PE ratio of -20.07 and a beta of 1.53. The firm’s 50-day moving average is $27.11 and its two-hundred day moving average is $22.89. Silk Road Medical, Inc has a 1 year low of $6.08 and a 1 year high of $27.51.

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

Insiders Place Their Bets

In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.10, for a total transaction of $61,462.80. Following the sale, the executive vice president now directly owns 162,926 shares in the company, valued at $4,415,294.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

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

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.