SI-BONE (NASDAQ:SIBN) Reaches New 12-Month High Following Analyst Upgrade

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price reached a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $20.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. SI-BONE traded as high as $19.35 and last traded at $17.90, with a volume of 381 shares changing hands. The stock had previously closed at $18.44.

Separately, Truist Financial upped their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and a consensus price target of $24.50.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the transaction, the insider now owns 222,814 shares in the company, valued at $3,097,114.60. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock valued at $130,356 in the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SI-BONE by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock worth $328,000 after purchasing an additional 988 shares during the period. FMR LLC lifted its holdings in shares of 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 during the period. Invesco Ltd. boosted its position in shares of SI-BONE by 8.9% during the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after acquiring an additional 1,413 shares in the last quarter. Rhumbline Advisers increased its stake in SI-BONE by 3.0% in the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after acquiring an additional 1,683 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in SI-BONE by 9.4% during the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after purchasing an additional 1,745 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.

SI-BONE Stock Down 3.0 %

The firm has a 50 day simple moving average of $15.82 and a two-hundred day simple moving average of $14.72. The stock has a market capitalization of $749.85 million, a P/E ratio of -19.44 and a beta of 1.17. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. On average, equities research analysts expect that SI-BONE, Inc. will post -0.78 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.