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1. Company Snapshot

1.a. Company Description

Silk Road Medical, Inc.operates as a medical device company in the United States.The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization.


Its products include 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; 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.The company was incorporated in 2007 and is headquartered in Sunnyvale, California.

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1.b. Last Insights on SILK

The acquisition deal with Boston Scientific, announced on June 18, is a significant driver, with Boston Scientific agreeing to acquire shares of Silk Road Medical for $27.50 each in cash. This deal has sparked investigations by law firms, including Halper Sadeh LLC, Wohl & Fruchter LLP, Johnson Fistel, LLP, and Monteverde & Associates PC, into whether the sale price is fair to shareholders. The company's Q2 earnings release on August 7 reported a loss of $0.42 per share, but revenue topped estimates.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Boston Scientific Announces Results for Third Quarter 2024

Oct -23

Source: prnewswire.com

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Boston Scientific Closes Acquisition of Silk Road Medical, Inc.

Sep -17

Source: prnewswire.com

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SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates BALY and SILK on Behalf of Shareholders

Aug -22

Source: accesswire.com

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SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Terran Orbital Corporation – LLAP

Aug -21

Source: globenewswire.com

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SILK INVESTIGATION: The M&A Class Action Firm Continues to Investigate the Merger and Looming Vote on September 5, 2024, of Silk Road Medical, Inc.

Aug -20

Source: prnewswire.com

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SILK Alert: Monsey Firm of Wohl & Fruchter Renews Investigation of the Proposed Sale of Silk Road Medical to Boston Scientific

Aug -19

Source: globenewswire.com

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Silk Road Medical (SILK) Reports Q2 Loss, Tops Revenue Estimates

Aug -07

Source: zacks.com

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Silk Road Medical Celebrates Milestone of 100,000 Transcarotid Artery Revascularization (TCAR) Procedures

Jul -30

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.00%)

6. Segments

Transcarotid Artery Revascularization

Expected Growth: 11%

Strong demand for minimally invasive procedures, increasing adoption of TCAR in ambulatory surgery centers, and expanding indications for high-risk patients drive growth. Silk Road Medical's TCAR system offers a less invasive alternative to carotid endarterectomy, reducing complications and improving patient outcomes, contributing to its 11% growth.

7. Detailed Products

ENROUTE Transcarotid Neuroprotection System

A minimally invasive system designed to directly access the common carotid artery in the neck, allowing for the removal of plaque and debris during carotid artery stenting procedures.

ENROUTE Transcarotid Stent System

A self-expanding stent designed to be used in conjunction with the ENROUTE Transcarotid Neuroprotection System to treat carotid artery disease.

8. Silk Road Medical, Inc's Porter Forces

Forces Ranking

Threat Of Substitutes

Silk Road Medical, Inc. has a moderate threat of substitutes due to the presence of alternative treatments and procedures for carotid artery disease and other vascular conditions.

Bargaining Power Of Customers

Silk Road Medical, Inc.'s customers, primarily hospitals and healthcare systems, have limited bargaining power due to the company's innovative technology and limited competition.

Bargaining Power Of Suppliers

Silk Road Medical, Inc. has a diverse supplier base, and the company's suppliers have limited bargaining power due to the company's strong relationships and negotiating power.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the medical device industry, including significant research and development costs and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry in the medical device industry is moderate, with several established players competing for market share, but Silk Road Medical, Inc.'s innovative technology and strong market position help to mitigate the competitive pressure.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 33.84%
Debt Cost 8.11%
Equity Weight 66.16%
Equity Cost 11.10%
WACC 10.09%
Leverage 51.16%

11. Quality Control: Silk Road Medical, Inc passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
SI-BONE

A-Score: 4.7/10

Value: 7.0

Growth: 5.8

Quality: 5.6

Yield: 0.0

Momentum: 6.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
908 Devices

A-Score: 4.3/10

Value: 7.2

Growth: 2.9

Quality: 4.8

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Silk Road Medical

A-Score: 3.8/10

Value: 6.2

Growth: 5.6

Quality: 5.0

Yield: 0.0

Momentum: 5.0

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
Avanos Medical

A-Score: 3.6/10

Value: 8.9

Growth: 2.3

Quality: 4.5

Yield: 0.0

Momentum: 0.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Cerus

A-Score: 3.5/10

Value: 5.6

Growth: 6.9

Quality: 3.4

Yield: 0.0

Momentum: 2.5

Volatility: 2.3

1-Year Total Return ->

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Stock-Card
TELA Bio

A-Score: 3.3/10

Value: 7.8

Growth: 5.8

Quality: 3.6

Yield: 0.0

Momentum: 1.0

Volatility: 1.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

27.49$

Current Price

27.49$

Potential

-0.00%

Expected Cash-Flows