Silk Road Medical (NASDAQ:SILK) Posts Earnings Results, Misses Estimates By $0.04 EPS

Silk Road Medical (NASDAQ:SILK) issued its earnings results on Wednesday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04), Briefing.com reports. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The company had revenue of $51.20 million for the quarter, compared to the consensus estimate of $49.74 million. During the same quarter last year, the business posted ($0.35) EPS. Silk Road Medical’s quarterly revenue was up 13.0% on a year-over-year basis.

Silk Road Medical Stock Performance

Shares of NASDAQ SILK traded up $0.11 during mid-day trading on Friday, hitting $27.22. The company had a trading volume of 1,172,019 shares, compared to its average volume of 1,185,216. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -19.87 and a beta of 1.52. Silk Road Medical has a 1 year low of $6.08 and a 1 year high of $27.23. 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 $25.81 and its 200-day moving average price is $20.79.

Wall Street Analysts Forecast Growth

SILK has been the subject of several analyst reports. 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. Argus cut shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. 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. Stifel Nicolaus reaffirmed a “hold” rating and set a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a report on Wednesday, July 17th. Finally, Piper Sandler lifted their target price on 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Silk Road Medical presently has an average rating of “Hold” and an average price target of $21.50.

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.