Federated Hermes Inc. Makes New Investment in Silk Road Medical, Inc (NASDAQ:SILK)

Federated Hermes Inc. bought a new position in Silk Road Medical, Inc (NASDAQ:SILK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 471,777 shares of the company's stock, valued at approximately $5,789,000. Federated Hermes Inc. owned about 1.21% of Silk Road Medical at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Silk Road Medical by 21.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 605,778 shares of the company's stock valued at $9,081,000 after purchasing an additional 107,438 shares in the last quarter. Jennison Associates LLC raised its position in Silk Road Medical by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 540,612 shares of the company's stock valued at $8,104,000 after purchasing an additional 3,748 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Silk Road Medical by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 298,144 shares of the company's stock valued at $4,469,000 after purchasing an additional 9,667 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Silk Road Medical by 33.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 200,000 shares of the company's stock worth $2,998,000 after acquiring an additional 50,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Silk Road Medical by 17.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 155,799 shares of the company's stock worth $2,335,000 after acquiring an additional 23,658 shares during the period.

Silk Road Medical Price Performance

SILK stock traded up $0.15 during midday trading on Friday, hitting $17.80. 449,135 shares of the stock were exchanged, compared to its average volume of 788,862. Silk Road Medical, Inc has a fifty-two week low of $6.08 and a fifty-two week high of $45.08. The stock has a market cap of $697.23 million, a price-to-earnings ratio of -12.36 and a beta of 1.48. The stock's 50-day moving average price is $17.53 and its 200-day moving average price is $13.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Silk Road Medical

In other news, CAO Marie L. Jones sold 2,602 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $44,676.34. Following the completion of the sale, the chief accounting officer now owns 76,894 shares in the company, valued at $1,320,269.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kevin M. Klemz sold 2,497 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $42,873.49. Following the completion of the transaction, the executive vice president now owns 165,194 shares in the company, valued at approximately $2,836,380.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Marie L. Jones sold 2,602 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $44,676.34. Following the sale, the chief accounting officer now directly owns 76,894 shares of the company's stock, valued at approximately $1,320,269.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,457 shares of company stock valued at $351,247. 6.70% of the stock is owned by corporate insiders.

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.