Truist Financial Boosts SI-BONE (NASDAQ:SIBN) Price Target to $18.00

SI-BONE (NASDAQ:SIBN) had its target price upped by equities researchers at Truist Financial from $16.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 44.69% from the stock’s current price.

Several other equities analysts also recently commented on SIBN. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research note on Wednesday. Morgan Stanley reduced 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.00.

SI-BONE Trading Down 5.3 %

NASDAQ:SIBN opened at $12.44 on Wednesday. The company has a quick ratio of 8.12, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE has a fifty-two week low of $11.76 and a fifty-two week high of $21.70. The company has a 50 day moving average price of $14.07 and a 200 day moving average price of $14.30.

Insider Buying and Selling

In other news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total value of $44,881.90. Following the completion of the sale, the insider now directly owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % 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 this hyperlink. Insiders sold a total of 7,147 shares of company stock worth $102,194 over the last 90 days. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SIBN. Champlain Investment Partners LLC boosted its holdings in shares of SI-BONE by 104.8% in the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after acquiring an additional 1,255,610 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in SI-BONE by 440.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after purchasing an additional 156,790 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position 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 worth $17,368,000 after purchasing an additional 128,702 shares during the period. Vanguard Group Inc. raised its stake 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 worth $40,328,000 after buying an additional 43,670 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares during the period. 98.11% of the stock is owned by hedge funds and other 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.