Brokerages Set SI-BONE, Inc. (NASDAQ:SIBN) PT at $32.60

SI-BONE, Inc. (NASDAQ:SIBN) has received an average rating of “Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.20.

Several brokerages have recently weighed in on SIBN. Zacks Investment Research lowered shares of SI-BONE from a “hold” rating to a “sell” rating in a research report on Friday, March 12th. Morgan Stanley lifted their price target on shares of SI-BONE from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday. Needham & Company LLC cut their price objective on shares of SI-BONE from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, March 15th. Finally, JMP Securities lifted their target price on SI-BONE from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, January 8th.

Shares of SI-BONE stock traded up $0.78 during trading on Monday, hitting $35.58. 3,350 shares of the company’s stock traded hands, compared to its average volume of 295,129. The company has a debt-to-equity ratio of 0.39, a current ratio of 12.65 and a quick ratio of 12.22. The firm’s fifty day moving average price is $31.93 and its 200 day moving average price is $28.11. SI-BONE has a twelve month low of $13.75 and a twelve month high of $35.68. The company has a market cap of $1.16 billion, a PE ratio of -21.75 and a beta of 1.41.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Sunday, March 7th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. The company had revenue of $22.14 million during the quarter, compared to the consensus estimate of $22.05 million. SI-BONE had a negative net margin of 61.67% and a negative return on equity of 45.03%. As a group, equities research analysts anticipate that SI-BONE will post -1.53 earnings per share for the current year.

In other SI-BONE news, Director John Gordon Freund sold 63,928 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $31.05, for a total transaction of $1,984,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey W. Dunn sold 2,112 shares of SI-BONE stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $33.65, for a total value of $71,068.80. The disclosure for this sale can be found here. In the last three months, insiders sold 1,068,072 shares of company stock worth $32,678,250. 15.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. BlackRock Inc. grew its stake in SI-BONE by 13.3% during the 4th quarter. BlackRock Inc. now owns 2,242,079 shares of the company’s stock valued at $67,039,000 after purchasing an additional 263,523 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of SI-BONE by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 806,972 shares of the company’s stock valued at $24,128,000 after purchasing an additional 163,696 shares during the last quarter. Royce & Associates LP increased its holdings in shares of SI-BONE by 109.9% in the fourth quarter. Royce & Associates LP now owns 691,700 shares of the company’s stock valued at $20,682,000 after purchasing an additional 362,100 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of SI-BONE by 55.3% in the fourth quarter. Federated Hermes Inc. now owns 654,848 shares of the company’s stock valued at $19,580,000 after purchasing an additional 233,111 shares during the last quarter. Finally, Avidity Partners Management LP acquired a new stake in shares of SI-BONE in the fourth quarter valued at approximately $19,133,000. 65.26% of the stock is owned by hedge funds and other institutional investors.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, develops implantable devices used in the surgical treatment of the sacropelvic anatomy in the United States and Internationally. The company offers iFuse, a minimally invasive surgical implant system, which is intended to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain.

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Analyst Recommendations for SI-BONE (NASDAQ:SIBN)

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