SI-BONE (NASDAQ:SIBN) Trading 3.9% Higher – Still a Buy?

SI-BONE, Inc. (NASDAQ:SIBN) rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $14.40 and last traded at $14.24. Approximately 58,323 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 378,714 shares. The stock had previously closed at $13.71.

Analyst Ratings Changes

Several research firms have commented on SIBN. Truist Financial boosted their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $23.00.

SI-BONE Stock Performance

The firm has a fifty day moving average of $13.47 and a 200 day moving average of $14.10. The stock has a market cap of $589.65 million, a price-to-earnings ratio of -15.28 and a beta of 1.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

Insider Transactions at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the completion of the sale, the chief financial officer now owns 194,623 shares of the company’s stock, valued at $2,467,819.64. This trade represents a 1.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,937 shares of SI-BONE stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.60, for a total value of $49,606.20. Following the completion of the sale, the insider now owns 228,554 shares in the company, valued at $2,879,780.40. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,679 shares of company stock worth $276,439 in the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the stock. Champlain Investment Partners LLC boosted its stake in SI-BONE by 14.7% during the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after buying an additional 358,821 shares during the period. American Century Companies Inc. lifted its holdings in shares of SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Bellevue Group AG boosted its position in shares of SI-BONE by 4.1% during the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock worth $20,189,000 after purchasing an additional 56,500 shares during the period. Paradigm Capital Management Inc. NY boosted its position in shares of SI-BONE by 24.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock worth $17,448,000 after purchasing an additional 267,100 shares during the period. Finally, State Street Corp increased its holdings in SI-BONE by 5.1% in the 3rd quarter. State Street Corp now owns 1,081,871 shares of the company’s stock valued at $15,125,000 after purchasing an additional 52,972 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SI-BONE

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.