Bank of New York Mellon Corp lifted its stake in Silk Road Medical, Inc (NASDAQ:SILK – Free Report) by 19.8% in the 2nd quarter, Holdings Channel reports. The firm owned 138,529 shares of the company’s stock after purchasing an additional 22,866 shares during the quarter. Bank of New York Mellon Corp’s holdings in Silk Road Medical were worth $3,746,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SILK. PNC Financial Services Group Inc. lifted its position in shares of Silk Road Medical by 1,293.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock valued at $31,000 after acquiring an additional 2,342 shares during the period. Quest Partners LLC acquired a new position in Silk Road Medical during the fourth quarter worth $62,000. SG Americas Securities LLC purchased a new stake in Silk Road Medical during the first quarter worth $109,000. State Board of Administration of Florida Retirement System grew its holdings in Silk Road Medical by 9.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,065 shares of the company’s stock valued at $221,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Silk Road Medical in the first quarter valued at $249,000.
Insider Buying and Selling
In other Silk Road Medical news, EVP Kevin M. Klemz sold 2,268 shares of Silk Road Medical 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 transaction, the executive vice president now owns 162,926 shares in the company, valued at approximately $4,415,294.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on SILK. Argus downgraded Silk Road Medical from a “buy” rating to a “sell” rating in a research note on Thursday, July 11th. Lake Street Capital restated a “hold” rating and set a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Finally, Stifel Nicolaus reiterated 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 issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.29.
Get Our Latest Analysis on SILK
Silk Road Medical Trading Up 0.8 %
Shares of Silk Road Medical stock opened at $27.50 on Friday. The firm has a market cap of $1.08 billion, a PE ratio of -20.07 and a beta of 1.53. The company has a quick ratio of 6.69, a current ratio of 7.63 and a debt-to-equity ratio of 0.49. Silk Road Medical, Inc has a fifty-two week low of $6.08 and a fifty-two week high of $27.50. The business’s fifty day moving average is $27.09 and its two-hundred day moving average is $22.71.
Silk Road Medical (NASDAQ:SILK – Get Free Report) last issued its quarterly 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). Silk Road Medical had a negative return on equity of 37.30% and a negative net margin of 29.53%. The business had revenue of $51.20 million during the quarter, compared to analyst estimates of $49.74 million. During the same period in the previous year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Silk Road Medical, Inc will post -1.45 earnings per share for the current year.
About Silk Road Medical
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.
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