Silk Road Medical Inc [SILK] stock Downgrade by Citigroup analyst, price target now $71

Silk Road Medical Inc [NASDAQ: SILK] loss -14.76% on the last trading session, reaching $52.33 price per share at the time. The company report on May 5, 2021 that Silk Road Medical Reports First Quarter 2021 Financial Results.

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Silk Road Medical, Inc. (Nasdaq: SILK), a company focused on reducing the risk of stroke and its devastating impact, reported financial results for the quarter ended March 31, 2021.

“Our first quarter results were characterized by meaningful progress on several commercial and operational initiatives and strong financial performance,” said Erica Rogers, President and Chief Executive Officer of Silk Road Medical. “Procedure trends are improving, and we are working closely with our trained physicians to drive adoption of TCAR as the environment normalizes. Simultaneously, we are driving forward development efforts aimed at new indications, therapies, and market opportunities.”.

Silk Road Medical Inc represents 34.07 million in outstanding shares, while the company has a total market value of $1.82 billion with the latest information. SILK stock price has been found in the range of $51.47 to $62.00.

If compared to the average trading volume of 339.87K shares, SILK reached a trading volume of 1334571 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Silk Road Medical Inc [SILK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SILK shares is $67.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SILK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Silk Road Medical Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 01, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on August 21, 2020, representing the official price target for Silk Road Medical Inc stock. Previously, the target price had yet another raise to $51, while SVB Leerink analysts kept a Outperform rating on SILK stock.

The Average True Range (ATR) for Silk Road Medical Inc is set at 2.91, with the Price to Sales ratio for SILK stock in the period of the last 12 months amounting to 24.23. The Price to Book ratio for the last quarter was 16.56, with the Price to Cash per share for the same quarter was set at 4.24.

Trading performance analysis for SILK stock

Silk Road Medical Inc [SILK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.58. With this latest performance, SILK shares gained by 3.30% in over the last four-week period, additionally sinking by -16.23% over the last 6 months – not to mention a rise of 20.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SILK stock in for the last two-week period is set at 42.59, with the RSI for the last a single of trading hit 36.41, and the three-weeks RSI is set at 45.35 for Silk Road Medical Inc [SILK]. The present Moving Average for the last 50 days of trading for this stock 53.38, while it was recorded at 59.94 for the last single week of trading, and 57.98 for the last 200 days.

Silk Road Medical Inc [SILK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Silk Road Medical Inc [SILK] shares currently have an operating margin of -56.97 and a Gross Margin at +71.70. Silk Road Medical Inc’s Net Margin is presently recorded at -62.96.

Return on Total Capital for SILK is now -30.51, given the latest momentum, and Return on Invested Capital for the company is -33.91. Return on Equity for this stock declined to -52.81, with Return on Assets sitting at -29.91. When it comes to the capital structure of this company, Silk Road Medical Inc [SILK] has a Total Debt to Total Equity ratio set at 48.59. Additionally, SILK Total Debt to Total Capital is recorded at 32.70, with Total Debt to Total Assets ending up at 29.13. Long-Term Debt to Equity for the company is recorded at 47.80, with the Long-Term Debt to Total Capital now at 32.17.

Reflecting on the efficiency of the workforce at the company, Silk Road Medical Inc [SILK] managed to generate an average of -$168,559 per employee. Receivables Turnover for the company is 8.51 with a Total Asset Turnover recorded at a value of 0.48.Silk Road Medical Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.40 and a Current Ratio set at 8.90.

Silk Road Medical Inc [SILK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Silk Road Medical Inc posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SILK.

An analysis of insider ownership at Silk Road Medical Inc [SILK]

There are presently around $1,827 million, in the hands of institutional investors. The top three institutional holders of SILK stocks are: BLACKROCK INC. with ownership of 2,999,313, which is approximately 19.42% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 2,855,866 shares of the stock with an approximate value of $149.45 million in SILK stocks shares; and WASATCH ADVISORS INC, currently with $137.63 million in SILK stock with ownership of nearly 1.525% of the company’s market capitalization.

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Positions in Silk Road Medical Inc stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 102 institutional holders increased their position in Silk Road Medical Inc [NASDAQ:SILK] by around 2,825,363 shares. Additionally, 82 investors decreased positions by around 2,364,028 shares, while 20 investors held positions by with 29,732,295 shares. The mentioned changes placed institutional holdings at 34,921,686 shares, according to the latest SEC report filing. SILK stock had 35 new institutional investments in for a total of 977,180 shares, while 22 institutional investors sold positions of 182,689 shares during the same period.

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