SI-BONE, Inc. (NASDAQ:SIBN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $39.71.

Several analysts have issued reports on SIBN shares. Citigroup started coverage on SI-BONE in a report on Tuesday, June 8th. They issued a “buy” rating for the company. Needham & Company LLC restated a “buy” rating and set a $37.00 price target (down previously from $42.00) on shares of SI-BONE in a report on Tuesday, August 3rd. Morgan Stanley cut their target price on SI-BONE from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, August 3rd. Finally, began coverage on shares of SI-BONE in a research note on Tuesday, June 8th. They set a “buy” rating and a $40.00 target price for the company.

Shares of SIBN traded down $0.25 during mid-day trading on Thursday, reaching $24.29. The company had a trading volume of 212,324 shares, compared to its average volume of 311,596. The stock has a market capitalization of $808.15 million, a P/E ratio of -17.35 and a beta of 1.40. SI-BONE has a 52-week low of $19.26 and a 52-week high of $37.21. The stock has a 50 day moving average of $24.73 and a two-hundred day moving average of $29.35. The company has a quick ratio of 15.13, a current ratio of 15.77 and a debt-to-equity ratio of 0.26.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Sunday, August 1st. The company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.03). The firm had revenue of $22.19 million for the quarter, compared to analyst estimates of $22.02 million. SI-BONE had a negative net margin of 52.47% and a negative return on equity of 30.43%. On average, sell-side analysts expect that SI-BONE will post -1.61 earnings per share for the current year.

In other news, Director Jeryl L. Hilleman sold 4,400 shares of the firm’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $33.71, for a total value of $148,324.00. Following the completion of the sale, the director now owns 198,091 shares in the company, valued at approximately $6,677,647.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laura Francis sold 4,849 shares of SI-BONE stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $20.46, for a total value of $99,210.54. The disclosure for this sale can be found here. Insiders sold a total of 22,699 shares of company stock worth $549,108 over the last ninety days. Insiders own 7.00% of the company’s stock.

Several large investors have recently modified their holdings of SIBN. Point72 Hong Kong Ltd boosted its stake in shares of SI-BONE by 21.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,154 shares of the company’s stock worth $69,000 after purchasing an additional 385 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of SI-BONE by 8.0% during the second quarter. ProShare Advisors LLC now owns 8,335 shares of the company’s stock worth $262,000 after purchasing an additional 615 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in SI-BONE by 7.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 9,207 shares of the company’s stock valued at $290,000 after purchasing an additional 664 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of SI-BONE by 1.7% during the 2nd quarter. California State Teachers Retirement System now owns 44,282 shares of the company’s stock worth $1,394,000 after acquiring an additional 725 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of SI-BONE by 4.8% during the 2nd quarter. Deutsche Bank AG now owns 20,693 shares of the company’s stock worth $651,000 after buying an additional 944 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

SI-BONE Company Profile

SI-BONE, Inc engages in the provision of implantable devices used in the surgical treatment of the sacropelvic anatomy. It offers a proprietary minimally invasive surgical implant system, called iFuse, used to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that often causes severe lower back pain.

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Analyst Recommendations for SI-BONE (NASDAQ:SIBN)

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