Capital World Investors Raises Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Capital World Investors boosted its stake in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 4.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,111,730 shares of the company’s stock after buying an additional 145,000 shares during the period. Capital World Investors owned 0.08% of Silk Road Medical worth $57,007,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SILK. State Board of Administration of Florida Retirement System boosted its position in shares of 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 last quarter. CWM LLC increased its position in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after purchasing an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Silk Road Medical by 1,293.9% during 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. Nisa Investment Advisors LLC boosted its holdings in Silk Road Medical by 879.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock valued at $52,000 after purchasing an additional 3,780 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Silk Road Medical in the 4th quarter valued at approximately $62,000.

Silk Road Medical Stock Performance

NASDAQ SILK opened at $27.02 on Friday. 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 company has a market cap of $1.07 billion, a P/E ratio of -19.72 and a beta of 1.52. The stock has a 50-day moving average of $24.75 and a two-hundred day moving average of $19.90. Silk Road Medical, Inc has a 1-year low of $6.08 and a 1-year high of $27.19.

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

Analyst Upgrades and Downgrades

SILK has been the topic of several analyst reports. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Lake Street Capital reissued a “hold” rating and set a $27.50 price objective (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Piper Sandler lifted their price target on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.50.

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.