SI-BONE, Inc. (NASDAQ:SIBN) Receives Average Rating of “Buy” from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $24.50.

SIBN has been the topic of several research analyst reports. Truist Financial restated a “buy” rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Needham & Company LLC boosted their target price on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 25th.

SI-BONE Trading Down 1.8 %

NASDAQ:SIBN opened at $16.06 on Monday. The stock has a market cap of $681.80 million, a PE ratio of -17.46 and a beta of 1.17. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $19.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The stock’s 50-day moving average is $16.44 and its two-hundred day moving average is $14.89.

SI-BONE (NASDAQ:SIBN) last posted 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. The business had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. As a group, equities research analysts forecast that SI-BONE will post -0.78 earnings per share for the current fiscal year.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the sale, the insider now directly owns 222,814 shares of the company’s stock, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock worth $130,356 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

A number of institutional investors and hedge funds have recently modified their holdings of SIBN. Harbor Capital Advisors Inc. boosted its stake in SI-BONE by 222.5% during the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock worth $8,674,000 after buying an additional 428,110 shares in the last quarter. Impax Asset Management Group plc boosted 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 valued at $10,604,000 after acquiring an additional 221,604 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SI-BONE by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after acquiring an additional 5,966 shares during the period. Champlain Investment Partners LLC raised its position in SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after purchasing an additional 358,821 shares in the last quarter. Finally, Millrace Asset Group Inc. bought a new position in SI-BONE during the third quarter worth about $1,056,000. 98.11% of the stock is currently owned by 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.