SI-BONE (NASDAQ:SIBN) Receives “Buy” Rating from Needham & Company LLC

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $19.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.48% from the stock’s previous close.

Separately, Truist Financial raised their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Stock Up 14.9 %

Shares of NASDAQ SIBN traded up $2.05 during trading hours on Monday, hitting $15.77. 130,873 shares of the stock were exchanged, compared to its average volume of 256,693. SI-BONE has a 12 month low of $11.70 and a 12 month high of $21.64. The firm has a fifty day moving average price of $13.68 and a 200-day moving average price of $14.21. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company has a market cap of $661.36 million, a PE ratio of -17.14 and a beta of 1.16.

Insiders Place Their Bets

In related news, CFO Anshul Maheshwari sold 2,439 shares of SI-BONE stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 194,623 shares in the company, valued at approximately $2,467,819.64. This trade represents a 1.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the sale, the insider now owns 222,814 shares in the company, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. Harbor Capital Advisors Inc. grew its position in shares of SI-BONE by 35.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock valued at $11,791,000 after acquiring an additional 220,555 shares during the period. JPMorgan Chase & Co. grew its holdings in SI-BONE by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 177,793 shares of the company’s stock valued at $2,486,000 after purchasing an additional 22,732 shares during the period. Franklin Resources Inc. increased its position in shares of SI-BONE by 9.4% in the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after buying an additional 1,745 shares in the last quarter. Barclays PLC raised its stake in shares of SI-BONE by 190.8% during the 3rd quarter. Barclays PLC now owns 96,623 shares of the company’s stock worth $1,350,000 after buying an additional 63,402 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of SI-BONE by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock valued at $12,921,000 after buying an additional 30,005 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.