Mirae Asset Global Investments Co. Ltd. Purchases 1,547 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

Posted by Defense World Staff on May 30th, 2023

Mirae Asset Global Investments Co. Ltd. grew its stake in Silk Road Medical, Inc (NASDAQ:SILK – Get Rating) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,518 shares of the company’s stock after purchasing an additional 1,547 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of Silk Road Medical worth $1,032,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Silk Road Medical by 10,205.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 4,019 shares of the company’s stock valued at $180,000 after purchasing an additional 3,980 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Silk Road Medical by 4.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 420,962 shares of the company’s stock valued at $22,248,000 after purchasing an additional 17,785 shares during the period. HighTower Advisors LLC lifted its stake in shares of Silk Road Medical by 0.8% in the 4th quarter. HighTower Advisors LLC now owns 52,429 shares of the company’s stock valued at $2,771,000 after purchasing an additional 391 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Silk Road Medical in the 3rd quarter valued at $377,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Silk Road Medical by 9.7% in the 4th quarter. Handelsbanken Fonder AB now owns 6,800 shares of the company’s stock valued at $359,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 96.43% of the company’s stock.

Silk Road Medical Trading Up 2.4 %

Shares of NASDAQ SILK opened at $30.65 on Tuesday. The business has a 50-day moving average of $39.06 and a 200-day moving average of $47.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 10.21 and a current ratio of 11.03. Silk Road Medical, Inc has a fifty-two week low of $29.20 and a fifty-two week high of $58.04.

Silk Road Medical (NASDAQ:SILK – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Silk Road Medical had a negative return on equity of 50.13% and a negative net margin of 36.47%. The business had revenue of $40.13 million for the quarter, compared to the consensus estimate of $40.69 million. During the same quarter in the previous year, the business posted ($0.48) EPS. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Silk Road Medical, Inc will post -1.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Silk Road Medical from $60.00 to $50.00 in a research note on Wednesday, May 10th. Wolfe Research downgraded Silk Road Medical from a “peer perform” rating to an “underperform” rating and set a $27.00 price objective on the stock. in a research note on Monday, May 15th. Citigroup dropped their price target on Silk Road Medical from $50.00 to $48.00 in a research note on Wednesday, May 10th. B. Riley began coverage on Silk Road Medical in a research note on Friday, March 31st. They issued a “buy” rating and a $58.00 price target on the stock. Finally, Argus dropped their price target on Silk Road Medical from $70.00 to $55.00 in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.25.

Insider Activity

In other news, insider Andrew S. Davis sold 6,753 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $48.02, for a total value of $324,279.06. Following the transaction, the insider now owns 98,205 shares of the company’s stock, valued at $4,715,804.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard Ruedy sold 2,373 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $47.73, for a total value of $113,263.29. Following the completion of the sale, the executive vice president now directly owns 145,483 shares in the company, valued at $6,943,903.59. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew S. Davis sold 6,753 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $48.02, for a total value of $324,279.06. Following the completion of the sale, the insider now owns 98,205 shares of the company’s stock, valued at $4,715,804.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,461 shares of company stock valued at $3,523,672. 7.66% of the stock is owned by insiders.

Silk Road Medical Company Profile

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Silk Road Medical, Inc engages in the development and manufacturing of 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.