Quest Partners LLC Decreases Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Quest Partners LLC reduced its position in Silk Road Medical, Inc (NASDAQ:SILK) by 67.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,064 shares of the company’s stock after selling 4,368 shares during the quarter. Quest Partners LLC’s holdings in Silk Road Medical were worth $56,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trium Capital LLP acquired a new stake in shares of Silk Road Medical in the 2nd quarter worth $354,000. Strategic Financial Concepts LLC purchased a new stake in Silk Road Medical in the second quarter valued at about $1,462,000. Arizona State Retirement System acquired a new stake in Silk Road Medical in the second quarter worth about $282,000. Wolverine Asset Management LLC acquired a new stake in Silk Road Medical in the second quarter worth about $1,217,000. Finally, Rhumbline Advisers grew its stake in shares of Silk Road Medical by 10.1% during the second quarter. Rhumbline Advisers now owns 58,016 shares of the company’s stock worth $1,569,000 after acquiring an additional 5,327 shares during the last quarter.

Insider Buying and Selling

In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of the business’s stock in a transaction that occurred on 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 directly owns 162,926 shares of the company’s stock, valued at $4,415,294.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by corporate insiders.

Silk Road Medical Price Performance

SILK stock opened at $27.49 on Thursday. The company has a market capitalization of $1.08 billion, a P/E ratio of -20.07 and a beta of 1.53. Silk Road Medical, Inc has a 12 month low of $6.08 and a 12 month high of $27.51. The firm’s fifty day simple moving average is $27.12 and its 200-day simple moving average is $22.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Wednesday, August 7th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The business had revenue of $51.20 million for the quarter, compared to analyst estimates of $49.74 million. Silk Road Medical had a negative net margin of 29.53% and a negative return on equity of 37.30%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. As a group, equities research analysts forecast that Silk Road Medical, Inc will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $27.50 price objective (up from $23.00) on shares of Silk Road Medical in a research report on Wednesday, July 17th. Argus lowered shares of Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Finally, Lake Street Capital reiterated 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. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.