SI-BONE (NASDAQ:SIBN) Earns “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of SI-BONE (NASDAQ:SIBN) in a research note released on Tuesday morning, Benzinga reports. They currently have a $32.00 target price on the stock.

Several other brokerages have also recently weighed in on SIBN. Piper Sandler initiated coverage on shares of SI-BONE in a research note on Thursday, March 28th. They issued an overweight rating and a $25.00 price objective on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 27th. Morgan Stanley cut their price objective on shares of SI-BONE from $26.00 to $25.00 and set an overweight rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a buy rating and issued a $27.00 target price on shares of SI-BONE in a report on Tuesday. Finally, Truist Financial reissued a buy rating and set a $24.00 price target (down previously 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 presently has a consensus rating of Buy and an average target price of $27.29.

SI-BONE Trading Up 8.3 %

NASDAQ:SIBN opened at $15.68 on Tuesday. The company has a market cap of $646.02 million, a PE ratio of -13.75 and a beta of 1.24. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $15.83 and a two-hundred day simple moving average of $18.01. SI-BONE has a 12 month low of $13.96 and a 12 month high of $29.51.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data 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 return on equity of 28.22% and a negative net margin of 31.20%. The company had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. Research analysts forecast that SI-BONE will post -0.98 earnings per share for the current year.

Insider Activity at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the sale, the insider now owns 255,760 shares in the company, valued at approximately $4,301,883.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Anthony J. Recupero sold 3,307 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.50, for a total value of $51,258.50. Following the transaction, the insider now directly owns 252,453 shares of the company’s stock, valued at approximately $3,913,021.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total transaction of $56,010.60. Following the sale, the insider now directly owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in SI-BONE by 2.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company’s stock valued at $14,408,000 after buying an additional 17,449 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in SI-BONE by 1.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 218,325 shares of the company’s stock valued at $4,637,000 after buying an additional 3,335 shares in the last quarter. Barclays PLC increased its stake in SI-BONE by 63.2% in the 3rd quarter. Barclays PLC now owns 24,286 shares of the company’s stock worth $516,000 after acquiring an additional 9,402 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of SI-BONE by 35.7% during the 3rd quarter. Impax Asset Management Group plc now owns 475,343 shares of the company’s stock worth $10,096,000 after acquiring an additional 125,000 shares in the last quarter. 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.