Glazer Capital LLC Takes Position in Silk Road Medical, Inc (NASDAQ:SILK)

Glazer Capital LLC acquired a new position in shares of Silk Road Medical, Inc (NASDAQ:SILK) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 620,304 shares of the company’s stock, valued at approximately $16,773,000. Silk Road Medical comprises approximately 1.3% of Glazer Capital LLC’s holdings, making the stock its 20th biggest position.

A number of other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position in Silk Road Medical by 12.4% in the 1st quarter. Wasatch Advisors LP now owns 4,549,742 shares of the company’s stock worth $83,351,000 after purchasing an additional 500,581 shares during the last quarter. Capital World Investors increased its holdings in Silk Road Medical by 4.9% in the first quarter. Capital World Investors now owns 3,111,730 shares of the company’s stock worth $57,007,000 after buying an additional 145,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Silk Road Medical by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,922,495 shares of the company’s stock worth $53,540,000 after buying an additional 30,726 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Silk Road Medical by 707.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock valued at $24,675,000 after acquiring an additional 1,762,048 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Silk Road Medical in the second quarter valued at approximately $53,279,000.

Analysts Set New Price Targets

Several brokerages have recently commented on SILK. Stifel Nicolaus restated a “hold” rating and set a $27.50 price target (up previously from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. 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 report on Tuesday, June 18th. Finally, Argus lowered Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.29.

Silk Road Medical Trading Down 0.0 %

Shares of Silk Road Medical stock opened at $27.49 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 7.63 and a quick ratio of 6.69. The company’s fifty day moving average price is $27.15 and its two-hundred day moving average price is $23.20. Silk Road Medical, Inc has a 52-week low of $6.08 and a 52-week high of $27.51. The firm has a market capitalization of $1.12 billion, a PE ratio of -20.07 and a beta of 1.53.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $51.20 million during the quarter, compared to the consensus estimate of $49.74 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts expect 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 business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.10, for a total value of $61,462.80. Following the transaction, the executive vice president now directly owns 162,926 shares in the company, valued at $4,415,294.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.90% of the stock is owned by insiders.

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.