SI-BONE (NASDAQ:SIBN) Price Target Cut to $25.00 by Analysts at Morgan Stanley

SI-BONE (NASDAQ:SIBN) had its target price lowered by Morgan Stanley from $26.00 to $25.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 27th. Truist Financial restated a buy rating and set a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler initiated coverage on shares of SI-BONE in a research report on Thursday, March 28th. They issued an overweight rating and a $25.00 price objective for the company. Finally, Needham & Company LLC restated a buy rating and set a $27.00 target price on shares of SI-BONE in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $27.29.

SI-BONE Price Performance

NASDAQ:SIBN opened at $15.68 on Tuesday. The firm’s fifty day moving average is $15.83 and its two-hundred day moving average is $18.01. The firm has a market cap of $646.02 million, a price-to-earnings ratio of -13.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.15 and a current ratio of 9.01. SI-BONE has a one year low of $13.96 and a one year high of $29.51.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.02. The business had revenue of $38.86 million during the quarter, compared to analysts’ expectations of $38.60 million. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. Research analysts expect that SI-BONE will post -0.98 EPS for the current year.

Insider Transactions at SI-BONE

In related news, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at approximately $3,175,222.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Anshul Maheshwari sold 2,425 shares of the business’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 directly owns 205,516 shares in the company, valued at $3,175,222.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 252,453 shares in the company, valued at $3,913,021.50. 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 Trading of SI-BONE

Hedge funds and other institutional investors have recently made changes to their positions in the company. RiverPark Advisors LLC acquired a new position in SI-BONE in the third quarter valued at approximately $55,000. Amalgamated Bank raised its position in SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after purchasing an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SI-BONE by 48.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after purchasing an additional 2,437 shares during the period. Arizona State Retirement System lifted its stake in shares of SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after purchasing an additional 762 shares during the last quarter. Finally, Semanteon Capital Management LP purchased a new position in shares of SI-BONE during the 4th quarter worth $251,000. Institutional investors and hedge funds 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.