Alliancebernstein L.P. Boosts Position in Silk Road Medical, Inc (NASDAQ:SILK)

Alliancebernstein L.P. increased its stake in Silk Road Medical, Inc (NASDAQ:SILK) by 21.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,924,919 shares of the company’s stock after acquiring an additional 521,628 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Silk Road Medical worth $160,958,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SILK. Russell Investments Group Ltd. purchased a new position in Silk Road Medical during the 2nd quarter valued at about $914,000. US Bancorp DE increased its position in Silk Road Medical by 120.4% during the 2nd quarter. US Bancorp DE now owns 930 shares of the company’s stock valued at $44,000 after purchasing an additional 508 shares during the period. Rhumbline Advisers increased its position in Silk Road Medical by 11.3% during the 2nd quarter. Rhumbline Advisers now owns 33,142 shares of the company’s stock valued at $1,586,000 after purchasing an additional 3,378 shares during the period. Swiss National Bank increased its position in Silk Road Medical by 14.5% during the 2nd quarter. Swiss National Bank now owns 71,100 shares of the company’s stock valued at $3,403,000 after purchasing an additional 9,000 shares during the period. Finally, WINTON GROUP Ltd increased its position in Silk Road Medical by 6.6% during 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 during the period.

In related news, insider Andrew S. Davis sold 4,805 shares of the business’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $60.96, for a total value of $292,912.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Erica J. Rogers purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 30th. The stock was bought at an average cost of $41.30 per share, with a total value of $103,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 62,900 shares of company stock valued at $3,134,282. Insiders own 7.70% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Silk Road Medical from a “sell” rating to a “hold” rating in a research report on Wednesday. SVB Leerink cut their price objective on shares of Silk Road Medical from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 10th. Argus cut 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 report on Monday, November 22nd. Piper Sandler lowered their target price on shares of Silk Road Medical from $55.00 to $48.00 in a research note on Monday, January 3rd. Finally, Citigroup upgraded shares of Silk Road Medical from a “sell” rating to a “neutral” rating and set a $50.00 target price for the company in a research note on Friday, November 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.00.

Shares of NASDAQ SILK opened at $36.09 on Friday. The company has a current ratio of 7.38, a quick ratio of 6.62 and a debt-to-equity ratio of 0.55. Silk Road Medical, Inc has a 12 month low of $34.81 and a 12 month high of $67.49. The company has a 50 day simple moving average of $43.82 and a two-hundred day simple moving average of $50.36. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -23.90 and a beta of 1.57.

Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Tuesday, November 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.09). Silk Road Medical had a negative net margin of 54.99% and a negative return on equity of 52.81%. The business had revenue of $24.70 million for the quarter, compared to analyst estimates of $26.03 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. Analysts forecast that Silk Road Medical, Inc will post -1.41 EPS for the current year.

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

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