SI-BONE (NASDAQ:SIBN) Earns Buy Rating from Truist Financial

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reiterated by equities research analysts at Truist Financial in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $22.00 price target on the stock, up from their previous price target of $18.00. Truist Financial’s price objective points to a potential upside of 19.99% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC raised their target price on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of SI-BONE in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $24.50.

SI-BONE Stock Performance

Shares of NASDAQ:SIBN traded up $0.87 on Tuesday, hitting $18.34. 390,986 shares of the company were exchanged, compared to its average volume of 337,802. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $15.73 and its 200 day moving average price is $14.69. SI-BONE has a 1-year low of $11.70 and a 1-year high of $20.60. The firm has a market capitalization of $768.93 million, a P/E ratio of -19.93 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. Sell-side analysts predict that SI-BONE will post -0.78 EPS for the current year.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now directly owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the transaction, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its position in SI-BONE by 222.5% in the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock valued at $8,674,000 after purchasing an additional 428,110 shares during the period. Impax Asset Management Group plc boosted its stake in shares of SI-BONE by 41.3% in the third 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. Charles Schwab Investment Management Inc. grew its holdings in shares of SI-BONE by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company’s stock valued at $4,405,000 after purchasing an additional 5,966 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after buying an additional 358,821 shares in the last quarter. Finally, Millrace Asset Group Inc. acquired a new stake in SI-BONE in the 3rd quarter valued at about $1,056,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.