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

SI-BONE, Inc. (NASDAQ:SIBN) has been given a consensus recommendation of “Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $27.29.

SIBN has been the subject of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price target on shares of SI-BONE in a report on Tuesday. Truist Financial reiterated a “buy” rating and set a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $27.00 price objective on shares of SI-BONE in a report on Tuesday. Piper Sandler started coverage on shares of SI-BONE in a research report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Morgan Stanley decreased their target price on shares of SI-BONE from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday.

Insider Activity

In other news, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the transaction, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Anshul Maheshwari sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the sale, the chief financial officer now owns 205,516 shares in the company, valued at approximately $3,175,222.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total transaction of $56,010.60. Following the completion of the transaction, the insider now directly owns 255,760 shares in the company, valued at $4,301,883.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently modified their holdings of the business. Brown Advisory Inc. raised its stake in SI-BONE by 5.4% during the 4th quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock valued at $88,320,000 after acquiring an additional 214,089 shares during the last quarter. First Light Asset Management LLC increased its holdings in shares of SI-BONE by 0.9% in the fourth quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company’s stock valued at $53,470,000 after purchasing an additional 23,299 shares during the period. Vanguard Group Inc. raised its stake in shares of SI-BONE by 7.2% during the third quarter. Vanguard Group Inc. now owns 2,308,516 shares of the company’s stock worth $49,033,000 after purchasing an additional 155,121 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of SI-BONE by 13.2% during the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock worth $27,003,000 after purchasing an additional 150,217 shares during the period. Finally, Wellington Management Group LLP increased its stake in SI-BONE by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock valued at $17,150,000 after buying an additional 211,209 shares during the period. 98.11% of the stock is owned by institutional investors and hedge funds.

SI-BONE Price Performance

Shares of NASDAQ:SIBN traded up $0.95 during midday trading on Tuesday, reaching $15.43. 309,518 shares of the company’s stock traded hands, compared to its average volume of 429,165. The company has a fifty day simple moving average of $15.87 and a two-hundred day simple moving average of $18.02. SI-BONE has a 1 year low of $13.96 and a 1 year high of $29.51. The company has a market cap of $635.72 million, a P/E ratio of -13.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.15 and a current ratio of 9.01.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.02. The firm had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. Equities analysts predict that SI-BONE will post -0.98 EPS for the current fiscal 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.