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

SI-BONE, Inc. (NASDAQ:SIBN) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $22.67.

A number of research firms have recently issued reports on SIBN. Truist Financial cut their price objective on SI-BONE from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Morgan Stanley cut their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Needham & Company LLC decreased their price objective on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now directly owns 236,717 shares in the company, valued at approximately $3,354,279.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Laura Francis sold 9,967 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the sale, the chief executive officer now owns 492,923 shares of the company’s stock, valued at $6,822,054.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 2,087 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the sale, the insider now owns 236,717 shares in the company, valued at $3,354,279.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,676 shares of company stock worth $344,967 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of SI-BONE

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers increased its stake in SI-BONE by 1.5% in the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after acquiring an additional 852 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of SI-BONE by 9.0% in the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of SI-BONE by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock valued at $205,000 after purchasing an additional 1,105 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of SI-BONE by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 worth $138,000 after buying an additional 2,108 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Performance

NASDAQ SIBN opened at $13.49 on Tuesday. The firm’s fifty day moving average price is $14.37 and its two-hundred day moving average price is $14.33. SI-BONE has a 1 year low of $11.76 and a 1 year high of $21.70. The firm has a market capitalization of $562.40 million, a P/E ratio of -13.36 and a beta of 1.22. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last issued its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The business had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period last year, the business posted ($0.30) EPS. As a group, research analysts anticipate that SI-BONE will post -0.89 EPS for the current year.

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.