Silk Road Medical (NASDAQ:SILK) Reaches New 12-Month Low Following Insider Selling

Silk Road Medical, Inc (NASDAQ:SILK) hit a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $37.87 and last traded at $38.28, with a volume of 840 shares. The stock had previously closed at $39.37.

Specifically, CEO Erica J. Rogers sold 18,095 shares of the stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $50.62, for a total value of $915,968.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lucas W. Buchanan sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $59.39, for a total transaction of $593,900.00. The disclosure for this sale can be found here. Insiders sold a total of 62,900 shares of company stock valued at $3,134,282 over the last 90 days. 7.70% of the stock is currently owned by company insiders.

Several analysts recently issued reports on SILK shares. Citigroup raised shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Friday, November 19th. Zacks Investment Research raised shares of Silk Road Medical from a “sell” rating to a “hold” rating in a research note on Wednesday. SVB Leerink decreased their target price on shares of Silk Road Medical from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, November 10th. Argus decreased their target price on shares of Silk Road Medical from $70.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, November 22nd. Finally, Piper Sandler decreased their target price on shares of Silk Road Medical from $55.00 to $48.00 in a report on Monday, January 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Silk Road Medical currently has an average rating of “Hold” and a consensus target price of $57.00.

The firm’s fifty day simple moving average is $43.82 and its two-hundred day simple moving average is $50.36. The company has a current ratio of 7.38, a quick ratio of 6.62 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -23.90 and a beta of 1.57.

Silk Road Medical (NASDAQ:SILK) last issued its quarterly earnings data on Tuesday, November 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.09). Silk Road Medical had a negative return on equity of 52.81% and a negative net margin of 54.99%. The company had revenue of $24.70 million during the quarter, compared to analyst estimates of $26.03 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, analysts forecast that Silk Road Medical, Inc will post -1.41 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Silk Road Medical by 120.4% in the 2nd quarter. US Bancorp DE now owns 930 shares of the company’s stock worth $44,000 after acquiring an additional 508 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Silk Road Medical in the 2nd quarter worth approximately $49,000. Assetmark Inc. acquired a new position in shares of Silk Road Medical in the 3rd quarter worth approximately $69,000. Great West Life Assurance Co. Can lifted its holdings in Silk Road Medical by 34.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 1,937 shares of the company’s stock worth $93,000 after buying an additional 496 shares in the last quarter. Finally, McAdam LLC acquired a new stake in Silk Road Medical during the 3rd quarter worth approximately $226,000.

Silk Road Medical Company Profile (NASDAQ:SILK)

Silk Road Medical, Inc develops and manufactures medical devices to treat neurovascular diseases. Its products include ENROUTE transcarotid neuroprotection system, ENROUTE transcarotid stent system, and ENROUTE transcarotid peripheral access kit. The company was founded by Tony M. Chou and Michi Garrison on March 21, 2007 and is headquartered in Sunnyvale, CA.

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