Silk Road Medical (NASDAQ:SILK) Earns Hold Rating from Lake Street Capital

Silk Road Medical (NASDAQ:SILK)‘s stock had its “hold” rating reiterated by analysts at Lake Street Capital in a report issued on Tuesday, Benzinga reports. They presently have a $27.50 price target on the stock, down from their prior price target of $28.00. Lake Street Capital’s price target indicates a potential upside of 2.31% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler raised their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.85.

Silk Road Medical Trading Up 24.0 %

SILK stock traded up $5.21 on Tuesday, hitting $26.88. 24,699,084 shares of the company were exchanged, compared to its average volume of 945,565. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $34.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62. The business’s fifty day moving average is $20.24 and its two-hundred day moving average is $16.69. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -19.62 and a beta of 1.51.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The firm had revenue of $48.50 million during the quarter, compared to analyst estimates of $44.67 million. During the same quarter in the prior year, the business posted ($0.43) earnings per share. Silk Road Medical’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts forecast that Silk Road Medical will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On Silk Road Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SILK. Wasatch Advisors LP grew its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after acquiring an additional 500,581 shares in the last quarter. Capital World Investors grew its holdings in 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. grew its holdings in Silk Road Medical by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after acquiring an additional 30,726 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in 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 acquired a new position in Silk Road Medical during the 4th quarter worth $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.