SI-BONE (NASDAQ:SIBN) Given New $18.00 Price Target at Truist Financial

SI-BONE (NASDAQ:SIBN) had its target price upped by Truist Financial from $16.00 to $18.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

SI-BONE Price Performance

Shares of SIBN stock opened at $12.92 on Wednesday. The stock has a 50 day moving average price of $14.03 and a 200 day moving average price of $14.29. SI-BONE has a 52-week low of $11.76 and a 52-week high of $21.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 8.25. The firm has a market capitalization of $541.86 million, a P/E ratio of -14.04 and a beta of 1.22.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction that occurred on 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 owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 7,147 shares of company stock valued at $102,194. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

A number of large investors have recently bought and sold shares of SIBN. Vanguard Group Inc. increased its holdings in shares of SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after acquiring an additional 43,670 shares during the period. Champlain Investment Partners LLC grew its stake in SI-BONE by 104.8% in the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock valued at $40,158,000 after purchasing an additional 1,255,610 shares during the last quarter. Bessemer Group Inc. raised its holdings in SI-BONE by 79.8% in the first quarter. Bessemer Group Inc. now owns 37,859 shares of the company’s stock worth $620,000 after purchasing an additional 16,800 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of SI-BONE by 78.4% during the first quarter. EntryPoint Capital LLC now owns 13,906 shares of the company’s stock valued at $228,000 after buying an additional 6,113 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings 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 buying an additional 1,372 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

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.