Silk Road Medical (NASDAQ:SILK) Sees Large Volume Increase

Silk Road Medical, Inc (NASDAQ:SILK) saw unusually-strong trading volume on Wednesday . Approximately 1,025,947 shares traded hands during trading, a decline of 11% from the previous session’s volume of 1,153,430 shares.The stock last traded at $26.96 and had previously closed at $26.97.

Wall Street Analysts Forecast Growth

SILK has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler raised their target price on Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Silk Road Medical currently has an average rating of “Hold” and a consensus target price of $20.85.

Silk Road Medical Stock Performance

The company has a market cap of $1.06 billion, a price-to-earnings ratio of -19.69 and a beta of 1.52. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $23.10 and its 200 day moving average price is $18.59.

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. The firm had revenue of $48.50 million during the quarter, compared to analyst estimates of $44.67 million. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. Silk Road Medical’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) earnings per share. On average, analysts expect that Silk Road Medical, Inc will post -1.43 EPS for the current fiscal year.

Institutional Trading of Silk Road Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its holdings in Silk Road Medical by 151.5% in the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after acquiring an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of 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 valued at $31,000 after purchasing an additional 2,342 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Silk Road Medical by 879.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after purchasing an additional 3,780 shares during the period. Quest Partners LLC purchased a new stake in shares of Silk Road Medical during the 4th quarter worth about $62,000. Finally, Tower Research Capital LLC TRC increased its position in Silk Road Medical by 369.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock worth $96,000 after purchasing an additional 6,165 shares in the last quarter.

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.