Silk Road Medical Inc (NASDAQ: SILK) stock jumped 9.33% on Wednesday to $47.94 against a previous-day closing price of $43.85. With 0.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.29 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $48.33 whereas the lowest price it dropped to was $44.25. The 52-week range on SILK shows that it touched its highest point at $63.22 and its lowest point at $27.21 during that stretch. It currently has a 1-year price target of $48.80. Beta for the stock currently stands at 1.45.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SILK was up-trending over the past week, with a rise of 12.46%, but this was up by 20.18% over a month. Three-month performance surged to 27.84% while six-month performance rose 16.22%. The stock lost -12.12% in the past year, while it has gained 12.51% so far this year. A look at the trailing 12-month EPS for SILK yields -1.74 with Next year EPS estimates of -1.36. For the next quarter, that number is -0.44. This implies an EPS growth rate of -0.10% for this year and 20.90% for next year.
Float and Shares Shorts:
At present, 35.14 million SILK shares are outstanding with a float of 34.26 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.93 million, which was 5.49% higher than short shares on Jun 14, 2022. In addition to Ms. Erica J. Rogers as the firm’s Pres, CEO & Director, Mr. Lucas W. Buchanan serves as its CFO & COO.
Through their ownership of 107.40% of SILK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 65.72% of SILK, in contrast to 38.85% held by mutual funds. Shares owned by individuals account for 32.06%. As the largest shareholder in SILK with 11.18% of the stake, Wasatch Advisors, Inc. holds 3,941,179 shares worth 3,941,179. A second-largest stockholder of SILK, AllianceBernstein LP, holds 3,700,872 shares, controlling over 10.50% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SILK, holding 3,071,273 shares or 8.72% stake. With a 7.92% stake in SILK, the American Funds Small Cap World Fu is the largest stakeholder. A total of 2,791,630 shares are owned by the mutual fund manager. The ClearBridge Small Cap Growth Fund, which owns about 3.66% of SILK stock, is the second-largest Mutual Fund holder. It holds 1,291,313 shares valued at 51.43 million. Wasatch Ultra Growth Fund holds 3.46% of the stake in SILK, owning 1,219,065 shares worth 48.56 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SILK since 7 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SILK analysts setting a high price target of $73.00 and a low target of $33.00, the average target price over the next 12 months is $48.33. Based on these targets, SILK could surge 52.27% to reach the target high and fall by -31.16% to reach the target low. Reaching the average price target will result in a growth of 0.81% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SILK will report FY 2022 earnings on 02/28/2023. Analysts have provided yearly estimates in a range of -$1.55 being high and -$1.84 being low. For SILK, this leads to a yearly average estimate of -$1.72. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Silk Road Medical Inc surprised analysts by $0.01 when it reported -$0.44 EPS against a consensus estimate of -$0.45. The surprise factor in the prior quarter was -$0.11. Based on analyst estimates, the high estimate for the next quarter is -$0.35 and the low estimate is -$0.45. The average estimate for the next quarter is thus -$0.42.
Summary of Insider Activity:
Insiders traded SILK stock several times over the past three months with 8 Buys and 18 Sells. In these transactions, 76,572 shares were bought while 181,523 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 40 over the past year. The total number of shares bought during that period was 434,131 while 301,130 shares were sold.