SI-BONE (NASDAQ:SIBN) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $19.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Morgan Stanley decreased their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial increased their price target on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Performance

SIBN stock opened at $12.56 on Wednesday. The company has a 50-day simple moving average of $13.72 and a 200 day simple moving average of $14.22. The company has a market capitalization of $526.74 million, a P/E ratio of -13.65 and a beta of 1.22. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $21.70.

Insider Activity at SI-BONE

In other SI-BONE news, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the transaction, the chief executive officer now owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.60, for a total value of $49,606.20. Following the sale, the insider now owns 228,554 shares of the company’s stock, valued at $2,879,780.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,093 shares of company stock valued at $299,558 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently bought and sold shares of SIBN. Harbor Capital Advisors Inc. boosted its holdings in shares of SI-BONE by 440.5% in the second quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock worth $2,487,000 after buying an additional 156,790 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in SI-BONE by 13.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock worth $17,368,000 after purchasing an additional 128,702 shares during the period. Vanguard Group Inc. grew its position in SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after purchasing an additional 43,670 shares in the last quarter. Impax Asset Management Group plc raised its stake in SI-BONE by 41.3% during the 3rd quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after purchasing an additional 221,604 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of SI-BONE by 22.8% in the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after purchasing an additional 368,637 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.