Silk Road Medical, Inc (NASDAQ:SILK) Insider Andrew S. Davis Sells 3,868 Shares of Stock

Posted by on Mar 7th, 2023

Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) insider Andrew S. Davis sold 3,868 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $47.74, for a total value of $184,658.32. Following the transaction, the insider now owns 115,683 shares of the company’s stock, valued at $5,522,706.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Silk Road Medical Stock Up 1.3 %

Shares of NASDAQ:SILK opened at $47.89 on Tuesday. Silk Road Medical, Inc has a 52-week low of $27.30 and a 52-week high of $58.04. The firm has a market capitalization of $1.84 billion, a P/E ratio of -30.90 and a beta of 1.22. The stock has a 50 day moving average price of $52.47 and a 200-day moving average price of $48.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 9.62 and a current ratio of 10.41.

Silk Road Medical (NASDAQ:SILK – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. Silk Road Medical had a negative return on equity of 63.30% and a negative net margin of 39.81%. The firm had revenue of $40.07 million during the quarter, compared to analyst estimates of $37.35 million. During the same quarter in the prior year, the company earned ($0.42) EPS. The business’s revenue was up 41.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Silk Road Medical, Inc will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in Silk Road Medical by 10,205.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,019 shares of the company’s stock valued at $180,000 after buying an additional 3,980 shares in the last quarter. M&T Bank Corp increased its position in Silk Road Medical by 19.8% during the 2nd quarter. M&T Bank Corp now owns 71,789 shares of the company’s stock valued at $2,611,000 after buying an additional 11,844 shares in the last quarter. Clearbridge Investments LLC increased its position in Silk Road Medical by 12.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,533,857 shares of the company’s stock valued at $55,817,000 after buying an additional 169,428 shares in the last quarter. Bridgewater Associates LP boosted its stake in Silk Road Medical by 18.3% during the 2nd quarter. Bridgewater Associates LP now owns 53,950 shares of the company’s stock valued at $1,963,000 after purchasing an additional 8,332 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Silk Road Medical by 2.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,347,244 shares of the company’s stock valued at $49,026,000 after purchasing an additional 28,339 shares during the last quarter. Institutional investors own 96.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SILK. Wolfe Research cut Silk Road Medical from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 7th. Bank of America started coverage on Silk Road Medical in a research report on Tuesday, November 22nd. They set a “buy” rating and a $60.00 target price for the company. Citigroup upped their price objective on Silk Road Medical to $38.00 in a report on Tuesday, November 15th. Finally, Argus upped their price objective on Silk Road Medical from $60.00 to $70.00 in a report on Monday, January 9th.

About Silk Road Medical

(Get Rating)

Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.

Further Reading

Insider Buying and Selling by Quarter for Silk Road Medical (NASDAQ:SILK)

Receive News & Ratings for Silk Road Medical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silk Road Medical and related companies with MarketBeat.com's FREE daily email newsletter.