Silk Road Medical (NASDAQ:SILK) Lowered to “Sell” at Argus

Argus lowered shares of Silk Road Medical (NASDAQ:SILK) from a buy rating to a sell rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

Several other analysts also recently weighed in on the company. Piper Sandler boosted their target price on Silk Road Medical from $18.00 to $20.00 and gave the company a neutral rating in a report on Wednesday, May 1st. Lake Street Capital reaffirmed a hold rating and set a $27.50 price objective (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their price objective on Silk Road Medical from $19.00 to $21.00 and gave the company a neutral rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $20.85.

Silk Road Medical Stock Up 0.0 %

Shares of NASDAQ SILK opened at $27.06 on Thursday. Silk Road Medical has a twelve month low of $6.08 and a twelve month high of $27.13. The company has a quick ratio of 9.62, a current ratio of 11.05 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $23.40 and a 200-day simple moving average of $18.70.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The business had revenue of $48.50 million during the quarter, compared to the consensus estimate of $44.67 million. During the same period in the previous year, the business earned ($0.43) EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts expect that Silk Road Medical will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Silk Road Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC acquired a new stake in shares of Silk Road Medical in the 4th quarter worth approximately $21,693,000. Goldman Sachs Group Inc. grew its holdings in shares of Silk Road Medical by 707.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after acquiring an additional 1,762,048 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Silk Road Medical in the 4th quarter worth approximately $17,520,000. Kennedy Capital Management LLC acquired a new stake in shares of Silk Road Medical in the 1st quarter worth approximately $18,981,000. Finally, Rings Capital Management LLC acquired a new stake in shares of Silk Road Medical in the 4th quarter worth approximately $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.