Silk Road Medical (NASDAQ:SILK) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Silk Road Medical (NASDAQ:SILKGet Rating) in a research report report published on Tuesday morning, The Fly reports. The firm issued a buy rating and a $60.00 target price on the stock.

Separately, Citigroup upped their price objective on Silk Road Medical to $38.00 in a research report on Tuesday, November 15th.

Silk Road Medical Stock Performance

NASDAQ:SILK opened at $52.09 on Tuesday. The stock has a fifty day moving average price of $45.18 and a 200-day moving average price of $41.05. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -31.96 and a beta of 1.23. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.29 and a current ratio of 6.14. Silk Road Medical has a fifty-two week low of $27.21 and a fifty-two week high of $54.04.

Insider Activity

In other news, insider Andrew S. Davis sold 6,753 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $44.76, for a total value of $302,264.28. Following the completion of the sale, the insider now owns 98,205 shares of the company’s stock, valued at $4,395,655.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Andrew S. Davis sold 6,753 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $44.76, for a total value of $302,264.28. Following the completion of the sale, the insider now owns 98,205 shares of the company’s stock, valued at $4,395,655.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth H. Weatherman sold 5,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $42.45, for a total value of $212,250.00. Following the completion of the sale, the director now directly owns 210,809 shares of the company’s stock, valued at approximately $8,948,842.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,506 shares of company stock valued at $3,422,494. Company insiders own 7.66% of the company’s stock.

Institutional Investors Weigh In On Silk Road Medical

Several large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new stake in Silk Road Medical in the third quarter valued at approximately $30,000. Destiny Wealth Partners LLC bought a new position in shares of Silk Road Medical in the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC bought a new position in shares of Silk Road Medical in the second quarter valued at approximately $38,000. Prospera Financial Services Inc bought a new position in shares of Silk Road Medical in the first quarter valued at approximately $39,000. Finally, MCF Advisors LLC bought a new position in shares of Silk Road Medical in the third quarter valued at approximately $43,000.

About Silk Road Medical

(Get Rating)

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. Its products include 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; 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.

Further Reading

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