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

SI-BONE, Inc. (NASDAQ:SIBN) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $23.00.

A number of analysts have recently commented on the company. Truist Financial lifted their target price on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley reduced their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of SI-BONE in a report on Wednesday, November 20th.

SI-BONE Trading Up 2.4 %

NASDAQ:SIBN opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE has a 1 year low of $11.70 and a 1 year high of $21.70. The stock has a market cap of $556.52 million, a P/E ratio of -14.21 and a beta of 1.22. The stock has a 50-day simple moving average of $13.61 and a 200-day simple moving average of $14.17.

Insider Activity at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.60, for a total value of $49,606.20. Following the transaction, the insider now directly owns 228,554 shares of the company’s stock, valued at $2,879,780.40. This represents a 1.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laura Francis sold 10,048 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the transaction, the chief executive officer now owns 482,875 shares in the company, valued at $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,093 shares of company stock worth $299,558. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in SI-BONE by 1.5% during the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after buying an additional 852 shares in the last quarter. Arizona State Retirement System raised its position in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares during the period. The Manufacturers Life Insurance Company boosted its position in SI-BONE by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock worth $205,000 after acquiring an additional 1,105 shares during the period. FMR LLC grew its stake in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of SI-BONE by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after purchasing an additional 1,372 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.