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Silk Road Medical Inc (NASDAQ: SILK): How Can A Stock Be Down -22.71% Year To Date, But Still Loser

Silk Road Medical Inc (NASDAQ:SILK)’s traded shares stood at 1.21 million during the last session, with the company’s beta value hitting 1.24. At the close of trading, the stock’s price was $40.85, to imply a decrease of -6.39% or -$2.79 in intraday trading. The SILK share’s 52-week high remains $58.04, putting it -42.08% down since that peak but still an impressive 33.17% since price per share fell to its 52-week low of $27.30. The company has a valuation of $1.64B, with an average of 0.67 million shares in intraday trading volume over the past 10 days and average of 444.15K shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Silk Road Medical Inc (SILK), translating to a mean rating of 2.30. Of 7 analyst(s) looking at the stock, 0 analyst(s) give SILK a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.38.

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Silk Road Medical Inc (NASDAQ:SILK) trade information

After registering a -6.39% downside in the last session, Silk Road Medical Inc (SILK) has traded red over the past five days. The stock hit a weekly high of 44.08 this Friday, 03/17/23, dropping -6.39% in its intraday price action. The 5-day price performance for the stock is -4.44%, and -18.80% over 30 days. With these gigs, the year-to-date price performance is -22.71%. Short interest in Silk Road Medical Inc (NASDAQ:SILK) saw shorts transact 2.65 million shares and set a 6.93 days time to cover.

Analysts on Wall Street suggest a consensus price target of $56.20, implying an increase of 27.31% to the stock’s current value. The extremes give us $46.00 and $63.00 for target low and target high price respectively. As such, SILK has been trading -54.22% off suggested target high and -12.61% from its likely low.

Silk Road Medical Inc (SILK) estimates and forecasts

Looking at statistics comparing Silk Road Medical Inc share performance against respective industry, we note that the company has underperformed competitors. Silk Road Medical Inc (SILK) shares are -8.84% down over the last 6 months, with its year-to-date growth rate lower than industry average at 1.95% against 4.80%. Revenue is forecast to grow 9.50% this quarter before jumping 14.60% for the next one. The rating firms project that company’s revenue will grow 34.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 5 analysts is $37.35 million. Meanwhile, for the quarter ending Mar 2023, a total of 4 analyst(s) estimate revenue growth to $36.37 million.Earnings reports from the last fiscal year show that sales brought in $28.27 million and $28.02 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 32.10% before jumping 29.80% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -19.10% for the past 5-year period. While 2023 is set for a -6.90% return in earnings, projections for the next 5 years are at 16.20% annually.

SILK Dividends

Silk Road Medical Inc has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Silk Road Medical Inc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Silk Road Medical Inc (NASDAQ:SILK)’s Major holders

Silk Road Medical Inc insiders hold 2.39% of total outstanding shares, with institutional holders owning 101.46% of the shares at 103.95% float percentage. In total, 101.46% institutions holds shares in the company, led by Wasatch Advisors Inc. As of Sep 29, 2022, the company held over 3.5 million shares (or 9.17% of shares), all amounting to roughly $157.35 million.

The next major institution holding the largest number of shares is AllianceBernstein, L.P. with 3.34 million shares, or about 8.76% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $150.24 million.

We also have Smallcap World Fund and Legg Mason Clearbridge Small Cap Growth Fd as the top two Mutual Funds with the largest holdings of the Silk Road Medical Inc (SILK) shares. Going by data provided on Dec 30, 2022, Smallcap World Fund holds roughly 2.97 million shares. This is just over 7.78% of the total shares, with a market valuation of $156.79 million. Data from the same date shows that the other fund manager holds a little less at 1.36 million, or 3.57% of the shares, all valued at about 59.94 million.

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