SI-BONE (NASDAQ:SIBN) PT Lowered to $25.00

SI-BONE (NASDAQ:SIBN) had its price target reduced by stock analysts at Morgan Stanley from $26.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 66.67% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of SI-BONE in a research report on Tuesday. Piper Sandler began coverage on shares of SI-BONE in a research report on Thursday, March 28th. They set an “overweight” rating and a $25.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Truist Financial reiterated a “buy” rating and set a $24.00 target price (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE has a consensus rating of “Buy” and a consensus price target of $27.29.

SI-BONE Price Performance

Shares of SI-BONE stock opened at $15.00 on Tuesday. The business has a 50 day moving average of $15.78 and a 200 day moving average of $17.99. SI-BONE has a 52 week low of $13.96 and a 52 week high of $29.51. The company has a market cap of $618 million, a PE ratio of -13.16 and a beta of 1.24. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21.

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

Insider Activity at SI-BONE

In related news, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the transaction, the chief financial officer now owns 205,516 shares in the company, valued at approximately $3,175,222.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total transaction of $40,550.00. Following the sale, the director now directly owns 19,350 shares in the company, valued at approximately $313,857. The disclosure for this sale can be found here. Insiders sold 11,905 shares of company stock valued at $190,273 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC grew its holdings in shares of SI-BONE by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,151 shares of the company’s stock worth $66,000 after acquiring an additional 580 shares during the period. Amalgamated Bank boosted its position in SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares during the last quarter. Arizona State Retirement System boosted its position in SI-BONE by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after purchasing an additional 762 shares during the last quarter. Swiss National Bank increased its position in shares of SI-BONE by 1.1% during the 3rd quarter. Swiss National Bank now owns 76,600 shares of the company’s stock valued at $1,627,000 after purchasing an additional 800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SI-BONE by 14.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock worth $179,000 after purchasing an additional 1,106 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.