Is Silk Road Medical (SILK) a Great Stock to Invest in?

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy outperformed the Russell 2500 Growth Index and returned 0.22% (net), and the index return was -0.12%. During the quarter, weakness in Financials, Health Care, and Industrial sectors was offset by strength in Consumer Staples, Consumer Discretionary, and Information Technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Silk Road Medical, Inc (NASDAQ:SILK) in its Q3 2022 investor letter. Headquartered in Sunnyvale, California, Silk Road Medical, Inc (NASDAQ:SILK) is a medical device company. On December 21, 2022, Silk Road Medical, Inc (NASDAQ:SILK) stock closed at $55.27 per share. One-month return of Silk Road Medical, Inc (NASDAQ:SILK) was 6.10%, and its shares gained 25.36% of their value over the last 52 weeks. Silk Road Medical, Inc (NASDAQ:SILK) has a market capitalization of $2.022 billion.

TimesSquare Capital made the following comment about Silk Road Medical, Inc (NASDAQ:SILK) in its Q3 2022 investor letter:

Silk Road Medical, Inc (NASDAQ:SILK) contributed a 24% gain this quarter. Its revenues outpaced estimates on higher procedure volumes using Silk’s innovative treatments for carotid artery diseases, particularly transcarotid artery revascularization (TCAR). Later in the quarter at an industry conference, Silk’s management was optimistic about the recently increased reimbursement coverage for TCAR and its potential for greater use.”

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Silk Road Medical, Inc (NASDAQ:SILK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Silk Road Medical, Inc (NASDAQ:SILK) at the end of the third quarter, which was 8 in the previous quarter.

We discussed Silk Road Medical, Inc (NASDAQ:SILK) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.