Silk Road Medical (NASDAQ:SILK) Stock Price Up 3.5%

Silk Road Medical, Inc (NASDAQ:SILK - Get Free Report) shares rose 3.5% during trading on Thursday . The company traded as high as $18.88 and last traded at $18.88. Approximately 42,349 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 832,758 shares. The stock had previously closed at $18.24.

Wall Street Analyst Weigh In

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

Silk Road Medical Price Performance

The company's 50 day moving average price is $17.25 and its 200-day moving average price is $13.05. The stock has a market cap of $749.03 million, a P/E ratio of -13.28 and a beta of 1.48. The company has a quick ratio of 6.97, a current ratio of 7.95 and a debt-to-equity ratio of 0.50.

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

Insider Transactions at Silk Road Medical

In other news, Director Kevin J. Ballinger acquired 11,700 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was bought 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 directly owns 17,807 shares in the company, valued at approximately $302,540.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kevin J. Ballinger purchased 11,700 shares of Silk Road Medical 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 acquisition, the director now owns 17,807 shares of the company's stock, valued at approximately $302,540.93. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin M. Klemz sold 2,497 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $42,873.49. Following the completion of the sale, the executive vice president now owns 165,194 shares of the company's stock, valued at $2,836,380.98. The disclosure for this sale can be found here. Insiders sold a total of 20,457 shares of company stock worth $351,247 over the last three months. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SILK. Armistice Capital LLC acquired a new position in shares of Silk Road Medical during the fourth quarter valued at about $21,693,000. Goldman Sachs Group Inc. grew its holdings in shares of Silk Road Medical by 707.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company's stock valued at $24,675,000 after buying an additional 1,762,048 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Silk Road Medical during the fourth quarter valued at about $17,520,000. Fred Alger Management LLC bought a new position in shares of Silk Road Medical during the first quarter valued at about $40,012,000. Finally, Rings Capital Management LLC bought a new position in shares of Silk Road Medical during the fourth quarter valued at about $10,552,000.

Silk Road Medical Company Profile

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.