SI-BONE (NASDAQ:SIBN) Reaches New 1-Year High on Analyst Upgrade

SI-BONE, Inc. (NASDAQ:SIBN) shares hit a new 52-week high during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $20.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. SI-BONE traded as high as $19.35 and last traded at $17.90, with a volume of 381 shares. The stock had previously closed at $18.44.

Separately, Truist Financial upped their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and an average price target of $24.50.

Insider Transactions at SI-BONE

In other news, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,311 shares of company stock valued at $130,356. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. boosted its stake in shares of SI-BONE by 222.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after acquiring an additional 428,110 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after buying an additional 358,821 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in SI-BONE by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after buying an additional 350,970 shares in the last quarter. American Century Companies Inc. raised its position in shares of SI-BONE by 11.0% in the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after purchasing an additional 236,167 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of SI-BONE by 41.3% during the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after purchasing an additional 221,604 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SI-BONE Price Performance

The stock’s 50-day moving average is $15.82 and its 200-day moving average is $14.72. 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 firm has a market cap of $749.85 million, a P/E ratio of -19.44 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last issued its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The business had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. As a group, equities analysts anticipate that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

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.