Silk Road Medical Down After Cutting Annual Revenue Guidance Below View

(RTTNews) - Shares of Silk Road Medical, Inc (SILK) are down more than 53% Wednesday morning after the company cut its full-year revenue outlook below the Street view.

The medical device company now expects annual revenue to be $170 million - $174 million, down from the previous outlook of $180 million - $184 million. Analysts on average polled by Thomson-Reuters expect the company to repot revenue of $181.66 million.

The company also reported preliminary third-quarter revenue of about $44.4 million, below the consensus estimate of $46.29 million.

SILK, currently at $6.49, has traded in the range of $6.55 - $58.04 in the last 1 year.