Zacks: SI-Bone Inc (SIBN) Receives Consensus Rating of “Strong Buy” from Analysts

SI-Bone Inc (NASDAQ:SIBN) has been given an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus price objective of $24.75 for the company and are forecasting that the company will post ($0.20) earnings per share for the current quarter, according to Zacks. Zacks has also given SI-Bone an industry rank of 67 out of 255 based on the ratings given to related companies.

SIBN has been the subject of several recent research reports. Morgan Stanley initiated coverage on SI-Bone in a research report on Monday, November 12th. They set an “overweight” rating and a $24.00 price objective for the company. Bank of America initiated coverage on SI-Bone in a research report on Monday, November 12th. They set a “buy” rating and a $23.00 price objective for the company. JMP Securities initiated coverage on SI-Bone in a research report on Monday, November 12th. They set an “outperform” rating and a $27.00 price objective for the company. Canaccord Genuity initiated coverage on SI-Bone in a research report on Monday, November 12th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Investment Research raised SI-Bone from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th.

Shares of SI-Bone stock opened at $17.71 on Wednesday. SI-Bone has a 12 month low of $16.27 and a 12 month high of $23.03.

SI-Bone (NASDAQ:SIBN) last announced its quarterly earnings data on Thursday, November 29th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The business had revenue of $13.38 million during the quarter. Sell-side analysts anticipate that SI-Bone will post -0.63 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new position in shares of SI-Bone in the 4th quarter worth about $48,000. Victory Capital Management Inc. purchased a new position in shares of SI-Bone in the 4th quarter worth about $261,000. TD Asset Management Inc. purchased a new position in shares of SI-Bone in the 4th quarter worth about $300,000. Dean Capital Investments Management LLC purchased a new position in shares of SI-Bone in the 4th quarter worth about $625,000. Finally, BlackRock Inc. purchased a new position in shares of SI-Bone in the 4th quarter worth about $15,835,000. 1.44% of the stock is owned by hedge funds and other institutional investors.

About SI-Bone

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

Further Reading: Price-Sales Ratio

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