Equities research analysts expect Silk Road Medical, Inc (NASDAQ:SILK - Get Rating) to report sales of $31.23 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Silk Road Medical's earnings, with the highest sales estimate coming in at $31.84 million and the lowest estimate coming in at $31.00 million. Silk Road Medical posted sales of $26.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The business is expected to announce its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Silk Road Medical will report full year sales of $129.93 million for the current year, with estimates ranging from $129.40 million to $130.57 million. For the next financial year, analysts expect that the company will post sales of $164.67 million, with estimates ranging from $161.24 million to $167.75 million. Zacks Investment Research's sales averages are an average based on a survey of research firms that cover Silk Road Medical.
Silk Road Medical (NASDAQ:SILK - Get Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.11). Silk Road Medical had a negative net margin of 51.93% and a negative return on equity of 63.51%. The business had revenue of $28.00 million for the quarter, compared to the consensus estimate of $27.10 million. During the same period in the prior year, the business posted ($0.31) EPS. Silk Road Medical's revenue for the quarter was up 39.7% on a year-over-year basis.
Several equities analysts have weighed in on SILK shares. Citigroup decreased their target price on shares of Silk Road Medical from $45.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, February 25th. Piper Sandler boosted their target price on shares of Silk Road Medical from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, April 4th. Wolfe Research started coverage on shares of Silk Road Medical in a report on Tuesday, April 5th. They issued an "outperform" rating and a $48.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Silk Road Medical from a "sell" rating to a "hold" rating in a report on Thursday, April 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $48.50.
In other news, CEO Erica J. Rogers sold 30,000 shares of the company's stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $43.37, for a total value of $1,301,100.00. Following the transaction, the chief executive officer now directly owns 245,649 shares in the company, valued at approximately $10,653,797.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.70% of the company's stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Silk Road Medical during the 4th quarter worth approximately $25,000. Rather & Kittrell Inc. purchased a new stake in Silk Road Medical during the 4th quarter worth approximately $29,000. Horan Securities Inc. purchased a new stake in Silk Road Medical during the 4th quarter worth approximately $37,000. Prospera Financial Services Inc purchased a new stake in Silk Road Medical during the 1st quarter worth approximately $39,000. Finally, Hazlett Burt & Watson Inc. purchased a new stake in Silk Road Medical during the 1st quarter worth approximately $53,000.
Shares of NASDAQ SILK opened at $31.01 on Friday. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -19.26 and a beta of 1.59. Silk Road Medical has a fifty-two week low of $27.21 and a fifty-two week high of $67.49. The company has a 50 day simple moving average of $38.44 and a two-hundred day simple moving average of $39.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.81 and a current ratio of 5.49.
About Silk Road Medical (Get Rating)
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. Its products include ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
Get a free copy of the Zacks research report on Silk Road Medical (SILK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Silk Road Medical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Silk Road Medical wasn't on the list.
While Silk Road Medical currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here