SI-BONE’s (SIBN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $19.00 price objective on the stock.

Several other equities analysts have also recently issued reports on SIBN. Morgan Stanley dropped their price objective 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. Truist Financial boosted their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE currently has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Down 1.4 %

Shares of SI-BONE stock opened at $12.15 on Wednesday. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $13.85 and its 200-day simple moving average is $14.25. SI-BONE has a 12 month low of $11.76 and a 12 month high of $21.70.

Insider Transactions at SI-BONE

In related news, CFO Anshul Maheshwari sold 2,439 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.68, for a total transaction of $30,926.52. Following the completion of the sale, the chief financial officer now owns 194,623 shares of the company’s stock, valued at approximately $2,467,819.64. This represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura Francis sold 10,048 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.58, for a total transaction of $126,403.84. Following the sale, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,093 shares of company stock worth $299,558 in the last three months. Company insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Large investors have recently bought and sold shares of the company. FMR LLC grew its position in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in SI-BONE in the second quarter valued at approximately $61,000. Walleye Capital LLC acquired a new stake in SI-BONE in the third quarter valued at approximately $144,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after acquiring an additional 2,108 shares in the last quarter. Finally, Arizona State Retirement System grew its position in SI-BONE by 9.0% in the second 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 in 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.