Rhumbline Advisers Acquires 5,327 Shares of Silk Road Medical, Inc (NASDAQ:SILK)

Rhumbline Advisers raised its holdings in shares of Silk Road Medical, Inc (NASDAQ:SILK) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,016 shares of the company’s stock after buying an additional 5,327 shares during the period. Rhumbline Advisers owned about 0.15% of Silk Road Medical worth $1,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SILK. Wasatch Advisors LP boosted its holdings in Silk Road Medical by 12.4% during the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock valued at $83,351,000 after acquiring an additional 500,581 shares during the period. Capital World Investors lifted its position in shares of Silk Road Medical by 4.9% in the 1st quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after purchasing an additional 145,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Silk Road Medical by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after purchasing an additional 30,726 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Silk Road Medical by 707.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after purchasing an additional 1,762,048 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Silk Road Medical during the fourth quarter valued at about $21,693,000.

Silk Road Medical Price Performance

Shares of Silk Road Medical stock opened at $27.49 on Friday. The stock has a market capitalization of $1.12 billion, a PE ratio of -20.07 and a beta of 1.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 6.69 and a current ratio of 7.63. The company has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $23.02. Silk Road Medical, Inc has a 52-week low of $6.08 and a 52-week high of $27.51.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The firm had revenue of $51.20 million during the quarter, compared to analysts’ expectations of $49.74 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Silk Road Medical’s revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Silk Road Medical, Inc will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.10, for a total value of $61,462.80. Following the completion of the transaction, the executive vice president now owns 162,926 shares of the company’s stock, valued at approximately $4,415,294.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

SILK has been the subject of several research analyst reports. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. Lake Street Capital reaffirmed a “hold” rating and set a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price target (up from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Silk Road Medical has a consensus rating of “Hold” and an average price target of $20.29.

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.