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

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $23.00.

Several equities analysts recently issued reports on SIBN shares. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research note on Monday, January 13th. Truist Financial increased their price target on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

SI-BONE Stock Performance

Shares of SIBN opened at $18.10 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The company has a market capitalization of $759.11 million, a price-to-earnings ratio of -19.67 and a beta of 1.17. The company’s 50 day simple moving average is $14.80 and its 200 day simple moving average is $14.52. SI-BONE has a 1 year low of $11.70 and a 1 year high of $21.64.

Insider Activity at SI-BONE

In related news, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anthony J. Recupero sold 3,937 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the sale, the insider now directly owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. The trade was a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,344 shares of company stock valued at $357,292. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in SI-BONE by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock worth $205,000 after acquiring an additional 1,105 shares in the last quarter. FMR LLC grew its holdings in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares in the last quarter. Rhumbline Advisers grew its holdings in SI-BONE by 3.0% during the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock worth $808,000 after acquiring an additional 1,683 shares in the last quarter. Franklin Resources Inc. grew its holdings in SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after acquiring an additional 1,745 shares in the last quarter. Finally, R Squared Ltd acquired a new position in SI-BONE during the 4th quarter worth $73,000. 98.11% of the stock is owned by institutional investors and hedge funds.

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.