Jacobs Levy Equity Management Inc. Boosts Stock Holdings in Silk Road Medical, Inc (NASDAQ:SILK)

Jacobs Levy Equity Management Inc. lifted its holdings in Silk Road Medical, Inc (NASDAQ:SILK) by 395.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 411,372 shares of the company’s stock after purchasing an additional 328,404 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.04% of Silk Road Medical worth $7,536,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SILK. Armistice Capital LLC bought a new position in shares of Silk Road Medical during the 4th quarter worth approximately $21,693,000. Goldman Sachs Group Inc. boosted its position in shares of Silk Road Medical by 707.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,010,983 shares of the company’s stock worth $24,675,000 after purchasing an additional 1,762,048 shares in the last quarter. Rubric Capital Management LP purchased a new position in Silk Road Medical during the 4th quarter worth $17,520,000. Kennedy Capital Management LLC acquired a new position in Silk Road Medical during the 1st quarter valued at about $18,981,000. Finally, Rings Capital Management LLC purchased a new stake in Silk Road Medical in the fourth quarter valued at about $10,552,000.

Analyst Ratings Changes

SILK has been the topic of several recent analyst reports. Argus downgraded shares of Silk Road Medical from a “buy” rating to a “sell” rating in a report on Thursday, July 11th. Stifel Nicolaus reiterated a “hold” rating and set a $27.50 price objective (up from $23.00) on shares of Silk Road Medical in a research note on Wednesday, July 17th. Piper Sandler raised their target price on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Silk Road Medical currently has a consensus rating of “Hold” and an average price target of $21.50.

Silk Road Medical Stock Performance

SILK stock traded up $0.01 during midday trading on Tuesday, hitting $27.04. 1,109,568 shares of the stock traded hands, compared to its average volume of 1,156,153. Silk Road Medical, Inc has a 1-year low of $6.08 and a 1-year high of $27.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62. The stock’s fifty day simple moving average is $24.83 and its 200-day simple moving average is $20.04. The firm has a market cap of $1.07 billion, a P/E ratio of -19.73 and a beta of 1.52.

Silk Road Medical (NASDAQ:SILK) last posted its earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. The firm had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $44.67 million. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm earned ($0.43) EPS. On average, analysts expect that Silk Road Medical, Inc will post -1.43 earnings per share for the current year.

Silk Road Medical 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.