SI-BONE (NASDAQ:SIBN) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $27.00 target price on the stock.

A number of other brokerages also recently issued reports on SIBN. Morgan Stanley increased their target price on SI-BONE from $25.00 to $26.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Truist Financial reissued a buy rating and issued a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an overweight rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Piper Sandler started 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 for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $27.29.

SI-BONE Trading Up 0.3 %

NASDAQ:SIBN opened at $15.58 on Tuesday. 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 stock’s 50 day simple moving average is $15.74 and its 200-day simple moving average is $17.97. SI-BONE has a 12-month low of $13.96 and a 12-month high of $29.51. The firm has a market cap of $641.96 million, a P/E ratio of -14.26 and a beta of 1.24.

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

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the transaction, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the firm’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 sale, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,307 shares of the firm’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 transaction of $51,258.50. Following the sale, the insider now owns 252,453 shares in the company, valued at approximately $3,913,021.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,905 shares of company stock worth $190,273. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in SI-BONE in the fourth quarter valued at approximately $6,721,000. Brown Advisory Inc. boosted its holdings in SI-BONE by 5.4% in the fourth quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock valued at $88,320,000 after acquiring an additional 214,089 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of SI-BONE by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock worth $17,150,000 after purchasing an additional 211,209 shares during the period. Assenagon Asset Management S.A. increased its position in SI-BONE by 92.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 419,940 shares of the company’s stock worth $8,815,000 after purchasing an additional 201,615 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in SI-BONE by 7.2% in the third quarter. Vanguard Group Inc. now owns 2,308,516 shares of the company’s stock valued at $49,033,000 after buying an additional 155,121 shares during the period. Institutional investors and hedge funds 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.