SI-BONE (NASDAQ:SIBN) Price Target Raised to $18.00

SI-BONE (NASDAQ:SIBN) had its price objective increased by Truist Financial from $16.00 to $18.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

Shares of NASDAQ:SIBN opened at $12.92 on Wednesday. The company has a current ratio of 8.25, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $14.03 and its two-hundred day simple moving average is $14.29. SI-BONE has a 1-year low of $11.76 and a 1-year high of $21.70. The stock has a market cap of $541.86 million, a PE ratio of -14.04 and a beta of 1.22.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 2,087 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the sale, the insider now directly owns 236,717 shares in the company, valued at approximately $3,354,279.89. The trade was a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 7,147 shares of company stock worth $102,194. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC raised its stake in SI-BONE by 104.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after acquiring an additional 1,255,610 shares during the period. Harbor Capital Advisors Inc. grew its holdings in SI-BONE by 440.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after buying an additional 156,790 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in SI-BONE by 13.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock valued at $17,368,000 after buying an additional 128,702 shares in the last quarter. Vanguard Group Inc. grew its holdings in SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after buying an additional 43,670 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors.

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.