SI-BONE’s (SIBN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a report issued on Tuesday morning, Benzinga reports. They currently have a $27.00 price objective on the stock.

A number of other research analysts have also recently issued reports on SIBN. Cantor Fitzgerald reaffirmed an overweight rating and issued a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 27th. Truist Financial reaffirmed a buy rating and set a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler began coverage on SI-BONE in a research note on Thursday, March 28th. They issued an overweight rating and a $25.00 price objective for the company. Finally, Morgan Stanley upped their target price on SI-BONE from $25.00 to $26.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $27.29.

SI-BONE Stock Up 8.3 %

SI-BONE stock opened at $15.68 on Tuesday. SI-BONE has a 1-year low of $13.96 and a 1-year high of $29.51. The business has a fifty day moving average price of $15.83 and a 200-day moving average price of $18.01. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. The stock has a market capitalization of $646.02 million, a price-to-earnings ratio of -13.75 and a beta of 1.24.

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

Insider Activity at SI-BONE

In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the sale, the director now owns 19,350 shares in the company, valued at approximately $313,857. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares in the company, valued at $313,857. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the sale, the chief financial officer now owns 205,516 shares in the company, valued at $3,175,222.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. purchased a new stake in SI-BONE in the 4th quarter worth $6,721,000. Brown Advisory Inc. increased its stake in shares of SI-BONE by 5.4% during the fourth quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock worth $88,320,000 after purchasing an additional 214,089 shares in the last quarter. Wellington Management Group LLP lifted 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings in SI-BONE by 92.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 419,940 shares of the company’s stock worth $8,815,000 after buying an additional 201,615 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in SI-BONE by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,308,516 shares of the company’s stock worth $49,033,000 after buying an additional 155,121 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SI-BONE Company Profile

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.