BidaskClub Lowers Silk Road Medical (NASDAQ:SILK) to Hold

BidaskClub lowered shares of Silk Road Medical (NASDAQ:SILK) from a buy rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Silk Road Medical from a buy rating to a hold rating in a report on Saturday, December 21st. Zacks Investment Research cut Silk Road Medical from a hold rating to a sell rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Silk Road Medical presently has a consensus rating of Hold and a consensus target price of $43.50.

Shares of SILK opened at $47.11 on Tuesday. Silk Road Medical has a 12-month low of $27.83 and a 12-month high of $51.50. The business has a 50-day simple moving average of $43.26 and a two-hundred day simple moving average of $38.26. The company has a quick ratio of 9.86, a current ratio of 10.61 and a debt-to-equity ratio of 0.58.

In other news, major shareholder Pincus & Co. Warburg sold 1,500,000 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $35.00, for a total value of $52,500,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Erica J. Rogers sold 20,044 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $47.43, for a total value of $950,686.92. Following the completion of the sale, the chief executive officer now directly owns 117,590 shares of the company’s stock, valued at approximately $5,577,293.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,653,061 shares of company stock valued at $58,489,790.

Several hedge funds have recently modified their holdings of the company. Horan Securities Inc. bought a new stake in shares of Silk Road Medical during the 3rd quarter valued at about $33,000. Tower Research Capital LLC TRC boosted its position in shares of Silk Road Medical by 83.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,024 shares of the company’s stock valued at $41,000 after purchasing an additional 466 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Silk Road Medical during the 4th quarter valued at about $41,000. Great West Life Assurance Co. Can bought a new stake in shares of Silk Road Medical during the 4th quarter valued at about $51,000. Finally, Royal Bank of Canada bought a new stake in shares of Silk Road Medical during the 2nd quarter valued at about $79,000. 87.83% of the stock is owned by institutional investors.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.

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Analyst Recommendations for Silk Road Medical (NASDAQ:SILK)

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