Silk Road Medical (SILK) to Release Earnings on Tuesday

Silk Road Medical (NASDAQ:SILK) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Silk Road Medical to post earnings of ($0.40) per share for the quarter. Silk Road Medical has set its FY 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Silk Road Medical (NASDAQ:SILK) last released its earnings results on Wednesday, February 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. Silk Road Medical had a negative return on equity of 36.38% and a negative net margin of 31.70%. The firm had revenue of $47.27 million for the quarter, compared to the consensus estimate of $42.23 million. On average, analysts expect Silk Road Medical to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Silk Road Medical Stock Performance

Shares of SILK opened at $17.41 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 6.97 and a current ratio of 7.95. The stock has a 50-day moving average of $17.46 and a two-hundred day moving average of $13.13. The stock has a market cap of $681.95 million, a P/E ratio of -12.09 and a beta of 1.48. Silk Road Medical has a one year low of $6.08 and a one year high of $46.57.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Silk Road Medical from $10.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Argus upgraded shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, March 7th. Stifel Nicolaus increased their price target on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Piper Sandler boosted their price objective on Silk Road Medical from $11.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Lake Street Capital assumed coverage on Silk Road Medical in a report on Wednesday, January 3rd. They set a “buy” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Silk Road Medical has an average rating of “Hold” and an average price target of $22.18.

Insider Activity

In related news, Director Kevin J. Ballinger acquired 11,700 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The stock was bought at an average cost of $16.99 per share, for a total transaction of $198,783.00. Following the completion of the transaction, the director now owns 17,807 shares of the company’s stock, valued at approximately $302,540.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Silk Road Medical news, CFO Lucas W. Buchanan sold 9,877 shares of Silk Road Medical stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total transaction of $169,588.09. Following the sale, the chief financial officer now owns 500,925 shares of the company’s stock, valued at approximately $8,600,882.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin J. Ballinger bought 11,700 shares of Silk Road Medical stock in a transaction dated Tuesday, March 5th. The stock was acquired at an average price of $16.99 per share, with a total value of $198,783.00. Following the completion of the transaction, the director now directly owns 17,807 shares of the company’s stock, valued at $302,540.93. The disclosure for this purchase can be found here. Insiders sold 20,457 shares of company stock worth $351,247 over the last three months. 6.70% of the stock is currently owned by corporate insiders.

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.