Acadian Asset Management LLC Cuts Stock Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Acadian Asset Management LLC lowered its holdings in Silk Road Medical, Inc (NASDAQ:SILK) by 34.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 110,899 shares of the company’s stock after selling 58,447 shares during the quarter. Acadian Asset Management LLC’s holdings in Silk Road Medical were worth $2,996,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SILK. PNC Financial Services Group Inc. grew its stake in Silk Road Medical by 1,293.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock valued at $31,000 after purchasing an additional 2,342 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Silk Road Medical in the 4th quarter valued at about $62,000. SG Americas Securities LLC bought a new stake in shares of Silk Road Medical in the 1st quarter valued at about $109,000. State Board of Administration of Florida Retirement System grew its position in shares of Silk Road Medical by 9.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock worth $221,000 after buying an additional 1,090 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Silk Road Medical during the 1st quarter worth approximately $249,000.

Silk Road Medical Stock Up 0.8 %

Silk Road Medical stock opened at $27.50 on Friday. The business’s 50-day simple moving average is $27.09 and its two-hundred day simple moving average is $22.68. 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 market cap of $1.08 billion, a PE ratio of -20.07 and a beta of 1.53. Silk Road Medical, Inc has a fifty-two week low of $6.08 and a fifty-two week high of $27.50.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Wednesday, August 7th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. 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 prior year, the company earned ($0.35) EPS. Silk Road Medical’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts anticipate that Silk Road Medical, Inc will post -1.45 EPS for the current year.

Insider Transactions at Silk Road Medical

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SILK shares. Lake Street Capital restated a “hold” rating and issued a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Stifel Nicolaus reissued a “hold” rating and issued a $27.50 price objective (up previously from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Finally, Argus lowered Silk Road Medical from a “buy” rating to a “sell” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Silk Road Medical currently has an average rating of “Hold” and an average target price of $20.29.

Silk Road Medical 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.