SI-BONE, Inc. (NASDAQ:SIBN) Given Consensus Rating of “Buy” by Brokerages

SI-BONE, Inc. (NASDAQ:SIBN) has earned an average rating of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $26.33.

A number of equities research analysts have commented on the company. JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of SI-BONE in a report on Tuesday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 27th. Morgan Stanley decreased their price target on shares of SI-BONE from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 7th. Piper Sandler started 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, Truist Financial restated a “buy” rating and set a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th.

SI-BONE Stock Up 0.7 %

SI-BONE stock opened at $12.01 on Wednesday. The stock’s 50 day moving average price is $14.02 and its 200 day moving average price is $17.04. The company has a market cap of $494.93 million, a PE ratio of -11.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.76 and a quick ratio of 8.75. SI-BONE has a 1-year low of $11.76 and a 1-year high of $29.18.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative net margin of 29.93% and a negative return on equity of 25.14%. The firm had revenue of $37.87 million for the quarter, compared to the consensus estimate of $36.45 million. On average, sell-side analysts predict that SI-BONE will post -0.95 EPS for the current fiscal year.

Insider Activity at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,941 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.10, for a total value of $59,509.10. Following the transaction, the insider now owns 247,592 shares of the company’s stock, valued at $3,738,639.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction 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 sale, the chief financial officer now owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony J. Recupero sold 3,941 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.10, for a total value of $59,509.10. Following the completion of the transaction, the insider now directly owns 247,592 shares in the company, valued at $3,738,639.20. The disclosure for this sale can be found here. Insiders sold 14,379 shares of company stock valued at $218,528 over the last 90 days. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. Granahan Investment Management LLC boosted its holdings in SI-BONE by 13.2% during the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock valued at $27,003,000 after acquiring an additional 150,217 shares during the period. Bullseye Asset Management LLC grew its holdings in SI-BONE by 218.6% in the 4th quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock valued at $2,141,000 after buying an additional 70,000 shares during the last quarter. Bellevue Group AG bought a new position in SI-BONE in the 4th quarter worth approximately $2,628,000. Federated Hermes Inc. lifted its holdings in shares of SI-BONE by 20.5% during the third quarter. Federated Hermes Inc. now owns 325,721 shares of the company’s stock worth $6,918,000 after buying an additional 55,515 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of SI-BONE by 421.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,441 shares of the company’s stock valued at $2,360,000 after acquiring an additional 90,892 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.