$26.76 Million in Sales Expected for Silk Road Medical, Inc (NASDAQ:SILK) This Quarter

Brokerages forecast that Silk Road Medical, Inc (NASDAQ:SILK) will report $26.76 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Silk Road Medical’s earnings, with estimates ranging from $25.80 million to $27.44 million. Silk Road Medical reported sales of $21.13 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.6%. The business is scheduled to report its next earnings report on Monday, March 7th.

On average, analysts expect that Silk Road Medical will report full year sales of $99.97 million for the current year, with estimates ranging from $99.00 million to $100.65 million. For the next year, analysts anticipate that the company will post sales of $136.36 million, with estimates ranging from $129.60 million to $142.40 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Silk Road Medical.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Tuesday, November 9th. The company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.09). The company had revenue of $24.70 million during the quarter, compared to the consensus estimate of $26.03 million. Silk Road Medical had a negative return on equity of 52.81% and a negative net margin of 54.99%. During the same quarter in the prior year, the company earned ($0.31) earnings per share.

A number of equities analysts have commented on the stock. SVB Leerink dropped 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 research note on Wednesday, November 10th. Citigroup upgraded shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research note on Friday, November 19th. Piper Sandler dropped their price objective on shares of Silk Road Medical from $55.00 to $48.00 in a research note on Monday, January 3rd. Argus dropped their price objective on shares of Silk Road Medical from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, November 22nd. Finally, Zacks Investment Research upgraded shares of Silk Road Medical from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.00.

SILK stock traded down $0.97 during mid-day trading on Wednesday, reaching $36.09. The company had a trading volume of 393,215 shares, compared to its average volume of 282,258. The company has a debt-to-equity ratio of 0.55, a current ratio of 7.38 and a quick ratio of 6.62. The firm has a 50 day moving average of $43.82 and a 200 day moving average of $50.36. Silk Road Medical has a 12 month low of $34.81 and a 12 month high of $67.49.

In related news, insider Andrew S. Davis sold 4,805 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $60.96, for a total transaction of $292,912.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Erica J. Rogers sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 11th. The stock was sold at an average price of $41.88, for a total transaction of $418,800.00. The disclosure for this sale can be found here. Insiders have sold 62,900 shares of company stock valued at $3,134,282 in the last three months. 7.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of Silk Road Medical by 120.4% in the second quarter. US Bancorp DE now owns 930 shares of the company’s stock worth $44,000 after buying an additional 508 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Silk Road Medical in the second quarter worth $49,000. Assetmark Inc. purchased a new position in shares of Silk Road Medical in the third quarter worth $69,000. Great West Life Assurance Co. Can raised its holdings in shares of Silk Road Medical by 34.4% in the second 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 during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Silk Road Medical by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 2,660 shares of the company’s stock worth $127,000 after buying an additional 368 shares during the last quarter.

Silk Road Medical Company Profile

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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Earnings History and Estimates for Silk Road Medical (NASDAQ:SILK)

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