Brokerages Set SI-BONE, Inc. (NASDAQ:SIBN) PT at $23.00

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have earned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $23.00.

Several equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC cut their price objective on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial cut their price target on SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, August 6th.

Insider Activity at SI-BONE

In other news, insider Anthony J. Recupero sold 3,309 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total value of $42,752.28. Following the completion of the sale, the insider now directly owns 243,629 shares of the company’s stock, valued at approximately $3,147,686.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the sale, the insider now directly owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony J. Recupero sold 3,309 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total value of $42,752.28. Following the sale, the insider now directly owns 243,629 shares of the company’s stock, valued at $3,147,686.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,023 shares of company stock valued at $347,749. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank increased its holdings in SI-BONE by 12.9% during the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the period. Rhumbline Advisers increased its holdings in shares of SI-BONE by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after acquiring an additional 852 shares during the period. Arizona State Retirement System increased its holdings in shares of SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after acquiring an additional 903 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of SI-BONE by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock valued at $205,000 after acquiring an additional 1,105 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in SI-BONE by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after buying an additional 1,372 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SI-BONE Price Performance

SIBN opened at $15.73 on Monday. The stock’s 50 day simple moving average is $15.30 and its 200 day simple moving average is $14.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12. SI-BONE has a 1 year low of $11.76 and a 1 year high of $23.12. The firm has a market cap of $648.15 million, a price-to-earnings ratio of -14.43 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The firm had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. During the same period last year, the company earned ($0.30) EPS. As a group, analysts predict that SI-BONE will post -0.89 earnings per share for the current 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.