Silk Road Medical to face pressure from adverse coverage decision, says Argus

Argus analyst David Toung downgraded Silk Road Medical to Hold from Buy. Silk Road is expected to face pressure from a recent adverse coverage decision from the Centers for Medicare and Medicaid, the analyst tells investors in a research note, adding that while the company is posting strong growth in both revenue and TCAR procedural volume, this growth may be not sustainable given a recent adverse coverage decision from the Centers for Medicare and Medicaid. Argus is also widening its FY23 EPS loss estimate by 2c to ($1.52) and its FY24 view by 2c to ($1.32).