Silk Road Medical, Inc (NASDAQ:SILK) Shares Purchased by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can boosted its stake in Silk Road Medical, Inc (NASDAQ:SILK) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,937 shares of the company’s stock after purchasing an additional 496 shares during the period. Great West Life Assurance Co. Can’s holdings in Silk Road Medical were worth $93,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. acquired a new stake in Silk Road Medical in the 2nd quarter valued at $267,000. Bank of New York Mellon Corp increased its holdings in Silk Road Medical by 47.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 161,803 shares of the company’s stock valued at $7,744,000 after purchasing an additional 52,339 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Silk Road Medical by 45.2% in the 2nd quarter. Principal Financial Group Inc. now owns 68,700 shares of the company’s stock valued at $3,288,000 after purchasing an additional 21,384 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Silk Road Medical by 65.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 13,925 shares of the company’s stock valued at $666,000 after purchasing an additional 5,502 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Silk Road Medical by 6.6% in the 2nd quarter. WINTON GROUP Ltd now owns 17,097 shares of the company’s stock valued at $818,000 after purchasing an additional 1,064 shares in the last quarter.

In other Silk Road Medical news, CFO Lucas W. Buchanan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $44.91, for a total value of $449,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew S. Davis sold 6,324 shares of the firm’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $50.75, for a total transaction of $320,943.00. Following the transaction, the insider now owns 37,115 shares in the company, valued at approximately $1,883,586.25. The disclosure for this sale can be found here. Insiders sold 97,536 shares of company stock worth $5,221,542 in the last 90 days. 7.70% of the stock is owned by company insiders.

Shares of NASDAQ SILK opened at $53.97 on Thursday. The company has a quick ratio of 8.75, a current ratio of 9.51 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $55.71 and its two-hundred day moving average price is $51.86. Silk Road Medical, Inc has a 52-week low of $43.11 and a 52-week high of $75.80. The stock has a market capitalization of $1.87 billion, a P/E ratio of -38.01 and a beta of 1.51.

Silk Road Medical (NASDAQ:SILK) last issued its earnings results on Thursday, July 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.06. Silk Road Medical had a negative net margin of 53.85% and a negative return on equity of 45.52%. The firm had revenue of $26.46 million for the quarter, compared to analysts’ expectations of $25.33 million. As a group, equities research analysts expect that Silk Road Medical, Inc will post -1.24 earnings per share for the current year.

A number of research firms have weighed in on SILK. Piper Sandler decreased their price objective on shares of Silk Road Medical from $58.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, July 30th. SVB Leerink reissued an “outperform” rating on shares of Silk Road Medical in a research report on Tuesday, July 20th. Citigroup cut shares of Silk Road Medical from a “neutral” rating to a “sell” rating and set a $50.00 price objective for the company. in a research report on Friday, October 1st. Finally, Zacks Investment Research raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Thursday, September 30th.

Silk Road Medical 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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Institutional Ownership by Quarter for Silk Road Medical (NASDAQ:SILK)

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