SI-BONE (NASDAQ:SIBN) Price Target Raised to $24.00

SI-BONE (NASDAQ:SIBN) had its target price raised by Needham & Company LLC from $20.00 to $24.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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, SI-BONE presently has an average rating of “Buy” and a consensus target price of $24.50.

SI-BONE Stock Down 1.9 %

SIBN stock opened at $17.81 on Tuesday. The stock has a market cap of $746.92 million, a P/E ratio of -19.36 and a beta of 1.17. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. SI-BONE has a twelve month low of $11.70 and a twelve month high of $19.16. The company’s 50 day moving average is $16.01 and its two-hundred day moving average is $14.76.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. Research analysts expect that SI-BONE will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SI-BONE news, 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 transaction of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at $3,097,114.60. This represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at $2,633,427.29. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,311 shares of company stock valued at $130,356. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SIBN. FMR LLC grew its position in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of SI-BONE in the 4th quarter worth $40,000. Mainstream Capital Management LLC purchased a new stake in shares of SI-BONE in the fourth quarter valued at about $53,000. R Squared Ltd acquired a new position in shares of SI-BONE during the fourth quarter worth about $73,000. Finally, KLP Kapitalforvaltning AS purchased a new position in SI-BONE during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Company Profile

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.