Published on 26 Dec 2023 on Insider Monkey via Yahoo Finance
Here’s Why Silk Road Medical (SILK) Came Under Pressure Despite 37% Growth
Meridian Funds, managed by ArrowMark Partners, released its “Meridian Small Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned -10.24% (net) in the third quarter compared to the Russell 2000 Growth Index’s -7.32% return. Overall, underperformance during the quarter resulted from the market’s muted or occasionally negative response to macroeconomic reports, even though several of the firms the strategy owned exceeded earnings estimates and improved outlook. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Meridian Small Cap Growth Fund highlighted stocks like Silk Road Medical, Inc (NASDAQ:SILK) in the third quarter 2023 investor letter. Headquartered in Sunnyvale, California, Silk Road Medical, Inc (NASDAQ:SILK) is a medical device company. On December 22, 2023, Silk Road Medical, Inc (NASDAQ:SILK) stock closed at $11.69 per share. One-month return of Silk Road Medical, Inc (NASDAQ:SILK) was 43.26%, and its shares lost 78.35% of their value over the last 52 weeks. Silk Road Medical, Inc (NASDAQ:SILK) has a market capitalization of $455.273 million.
Meridian Small Cap Growth Fund made the following comment about Silk Road Medical, Inc (NASDAQ:SILK) in its Q3 2023 investor letter: