SI-BONE’s (SIBN) Buy Rating Reiterated at Needham & Company LLC

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $19.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 21.56% from the stock’s current price.

A number of other equities analysts also recently commented on SIBN. Truist Financial decreased their target price on SI-BONE from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley dropped their price target on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $22.67.

SI-BONE Price Performance

Shares of NASDAQ SIBN opened at $15.63 on Wednesday. SI-BONE has a 1-year low of $11.76 and a 1-year high of $21.70. The company has a market cap of $651.61 million, a price-to-earnings ratio of -15.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12. The stock’s 50-day moving average is $14.20 and its two-hundred day moving average is $14.32.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.06. The firm had revenue of $40.34 million during the quarter, compared to the consensus estimate of $40.49 million. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. Analysts forecast that SI-BONE will post -0.89 EPS for the current fiscal year.

Insider Activity

In related news, CEO Laura Francis sold 9,967 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $137,943.28. Following the transaction, the chief executive officer now directly owns 492,923 shares in the company, valued at approximately $6,822,054.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Anthony J. Recupero sold 2,087 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the transaction, the insider now owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 9,967 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now directly owns 492,923 shares of the company’s stock, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,017 shares of company stock worth $349,587 over the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its holdings in shares of SI-BONE by 104.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock worth $40,158,000 after buying an additional 1,255,610 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in SI-BONE by 440.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after acquiring an additional 156,790 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in SI-BONE by 13.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock valued at $17,368,000 after acquiring an additional 128,702 shares in the last quarter. Vanguard Group Inc. increased its position in shares of SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after purchasing an additional 43,670 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after purchasing an additional 368,637 shares during the last quarter. Institutional investors and hedge funds 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.