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

SI-BONE, Inc. (NASDAQ:SIBN) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $22.67.

SIBN has been the subject of several analyst reports. Truist Financial dropped 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. Needham & Company LLC dropped their price target on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley dropped their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th.

SI-BONE Stock Performance

Shares of NASDAQ:SIBN opened at $13.63 on Tuesday. SI-BONE has a one year low of $11.76 and a one year high of $21.70. The business’s fifty day moving average price is $14.37 and its two-hundred day moving average price is $14.32. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.04. The company had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same period in the prior year, the firm earned ($0.30) EPS. Sell-side analysts forecast that SI-BONE will post -0.89 EPS for the current fiscal year.

Insider Activity at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,418 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.87, for a total value of $33,537.66. Following the completion of the sale, the chief financial officer now owns 198,762 shares of the company’s stock, valued at $2,756,828.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SI-BONE news, CFO Anshul Maheshwari sold 2,418 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.87, for a total value of $33,537.66. Following the transaction, the chief financial officer now owns 198,762 shares in the company, valued at $2,756,828.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,905 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $54,045.20. Following the sale, the insider now owns 238,804 shares of the company’s stock, valued at $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,676 shares of company stock worth $344,967. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in 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 period. Champlain Investment Partners LLC grew its holdings in SI-BONE by 104.8% in 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. American Century Companies Inc. increased its position in 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 acquiring an additional 368,637 shares during the period. Paradigm Capital Management Inc. NY raised its stake in SI-BONE by 24.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after acquiring an additional 267,100 shares in the last quarter. Finally, Bellevue Group AG grew its stake in shares of SI-BONE by 810.5% in the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock worth $18,661,000 after purchasing an additional 1,014,756 shares in the last quarter. Institutional investors 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.