Warburg Pincus LLC Invests $591.19 Million in Silk Road Medical Inc (NASDAQ:SILK)
Warburg Pincus LLC acquired a new position in Silk Road Medical Inc (NASDAQ:SILK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,199,629 shares of the company’s stock, valued at approximately $591,194,000. Silk Road Medical comprises 9.3% of Warburg Pincus LLC’s portfolio, making the stock its 2nd biggest holding. Warburg Pincus LLC owned 39.77% of Silk Road Medical at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of SILK. Bank of Montreal Can purchased a new stake in Silk Road Medical during the 2nd quarter worth approximately $28,000. Elkfork Partners LLC purchased a new stake in Silk Road Medical during the 2nd quarter worth approximately $30,000. Meadow Creek Investment Management LLC purchased a new stake in Silk Road Medical during the 2nd quarter worth approximately $36,000. FNY Investment Advisers LLC purchased a new stake in Silk Road Medical during the 2nd quarter worth approximately $70,000. Finally, Advisor Group Inc. purchased a new stake in Silk Road Medical during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 70.18% of the company’s stock.
In other Silk Road Medical news, major shareholder Pincus & Co. Warburg sold 630,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $39.50, for a total value of $24,885,000.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Silk Road Medical (NASDAQ:SILK) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.14). The business had revenue of $14.93 million for the quarter, compared to the consensus estimate of $13.64 million. The company’s quarterly revenue was up 92.2% compared to the same quarter last year. As a group, equities research analysts expect that Silk Road Medical Inc will post -2.02 EPS for the current year.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Silk Road Medical from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Argus assumed coverage on shares of Silk Road Medical in a research note on Tuesday, August 20th. They set a “buy” rating and a $52.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.00.
Silk Road Medical Profile
Silk Road Medical, Inc operates as a medical device company in the United States. It offers ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and initiate temporary blood flow reversal; ENROUTE Transcarotid Stent System, a self-expanding, self-tapering stent with clinical data regarding lasting safety outcomes; ENHANCE Transcarotid Peripheral Access Kit for use in gaining initial access to the common carotid artery; and ENROUTE 0.014 Guidewire for navigating and crossing the target lesion for delivery of interventional devices.
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