Cantor Fitzgerald Boosts Earnings Estimates for SI-BONE

SI-BONE, Inc. (NASDAQ:SIBN) – Equities researchers at Cantor Fitzgerald lifted their FY2024 EPS estimates for shares of SI-BONE in a research note issued on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($0.69) per share for the year, up from their prior forecast of ($0.95). The consensus estimate for SI-BONE’s current full-year earnings is ($0.78) per share.

A number of other equities analysts have also issued reports on the stock. Truist Financial increased their target price on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research report on Wednesday, November 13th. Finally, Morgan Stanley reduced their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Performance

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

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 233,412 shares in the company, valued at $3,169,734.96. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders sold 5,060 shares of company stock worth $72,621. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in SI-BONE by 1.8% during the first 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 in the last quarter. Champlain Investment Partners LLC raised its position in SI-BONE by 104.8% during the first 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 in the last quarter. Bessemer Group Inc. raised its position in SI-BONE by 79.8% during the first quarter. Bessemer Group Inc. now owns 37,859 shares of the company’s stock valued at $620,000 after acquiring an additional 16,800 shares in the last quarter. EntryPoint Capital LLC grew its holdings in 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 purchasing an additional 6,113 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in SI-BONE by 7.2% during the first 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. 98.11% of the stock is owned by hedge funds and other 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.