Silk Road Medical (NASDAQ:SILK) Trading 5.1% Higher

Shares of Silk Road Medical, Inc (NASDAQ:SILK - Get Free Report) traded up 5.1% during mid-day trading on Friday . The stock traded as high as $17.92 and last traded at $17.82. 278,133 shares changed hands during trading, a decline of 68% from the average session volume of 860,921 shares. The stock had previously closed at $16.95.

Wall Street Analysts Forecast Growth

SILK has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Silk Road Medical from $10.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Piper Sandler upped their price target on shares of Silk Road Medical from $11.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Lake Street Capital began coverage on shares of Silk Road Medical in a research note on Wednesday, January 3rd. They issued a "buy" rating and a $20.00 price objective on the stock. Argus raised shares of Silk Road Medical from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Thursday, March 7th. Finally, Stifel Nicolaus increased their price target on Silk Road Medical from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Silk Road Medical presently has an average rating of "Hold" and an average target price of $22.18.

Silk Road Medical Stock Up 4.6 %

The business's 50 day simple moving average is $17.02 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95. The company has a market cap of $694.48 million, a price-to-earnings ratio of -12.31 and a beta of 1.48.

Silk Road Medical (NASDAQ:SILK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. The company had revenue of $47.27 million during the quarter, compared to the consensus estimate of $42.23 million. Silk Road Medical had a negative return on equity of 36.38% and a negative net margin of 31.70%. Sell-side analysts expect that Silk Road Medical, Inc will post -1.39 earnings per share for the current year.

Insider Activity at Silk Road Medical

In related news, Director Kevin J. Ballinger purchased 11,700 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $16.99 per share, for a total transaction of $198,783.00. Following the purchase, the director now owns 17,807 shares in the company, valued at approximately $302,540.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Silk Road Medical news, insider Andrew S. Davis sold 5,481 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $94,108.77. Following the completion of the sale, the insider now directly owns 287,773 shares in the company, valued at $4,941,062.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin J. Ballinger purchased 11,700 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the transaction, the director now owns 17,807 shares in the company, valued at $302,540.93. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 20,457 shares of company stock valued at $351,247. Insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Silk Road Medical

A number of institutional investors and hedge funds have recently bought and sold shares of SILK. Raymond James & Associates lifted its position in shares of Silk Road Medical by 23.0% in the 1st quarter. Raymond James & Associates now owns 17,672 shares of the company's stock worth $730,000 after acquiring an additional 3,304 shares during the period. US Bancorp DE lifted its position in Silk Road Medical by 41.3% in the first quarter. US Bancorp DE now owns 1,673 shares of the company's stock worth $69,000 after purchasing an additional 489 shares during the period. MetLife Investment Management LLC boosted its stake in Silk Road Medical by 63.3% during the first quarter. MetLife Investment Management LLC now owns 18,697 shares of the company's stock worth $772,000 after buying an additional 7,246 shares in the last quarter. Rhumbline Advisers increased its holdings in Silk Road Medical by 4.7% in the 1st quarter. Rhumbline Advisers now owns 35,607 shares of the company's stock valued at $1,470,000 after buying an additional 1,584 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Silk Road Medical by 1.2% in the 1st quarter. BlackRock Inc. now owns 2,556,071 shares of the company's stock valued at $105,542,000 after buying an additional 29,112 shares in the last quarter.

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.