SI-BONE, Inc. (NASDAQ:SIBN) Given Average Recommendation of “Buy” by Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have received an average recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $23.00.

A number of brokerages have issued reports on SIBN. Truist Financial increased their price target on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research report on Wednesday. Finally, Morgan Stanley cut their price target 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.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the completion of the sale, the insider now directly owns 233,412 shares in the company, valued at $3,169,734.96. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the transaction, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,093 shares of company stock worth $299,558 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its stake in SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after buying an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SI-BONE during the 2nd quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after acquiring an additional 2,108 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after purchasing an additional 903 shares during the period. Finally, Walleye Capital LLC acquired a new stake in SI-BONE during the third quarter worth about $144,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SI-BONE Price Performance

NASDAQ:SIBN opened at $12.56 on Friday. 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 52 week low of $11.70 and a 52 week high of $21.70. The stock’s 50-day moving average price is $13.72 and its 200-day moving average price is $14.22. The stock has a market capitalization of $526.74 million, a PE ratio of -13.65 and a beta of 1.22.

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.