Needham & Company LLC Reiterates Buy Rating for SI-BONE (NASDAQ:SIBN)

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a report published on Wednesday,Benzinga reports. They currently have a $19.00 price objective on the stock.

A number of other research firms have also weighed in on SIBN. Morgan Stanley dropped their price target 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. Truist Financial upped their target price on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Up 2.2 %

SIBN stock opened at $12.56 on Wednesday. The business’s 50-day moving average price is $13.72 and its 200-day moving average price is $14.21. The stock has a market cap of $526.77 million, a P/E ratio of -13.65 and a beta of 1.22. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE has a twelve month low of $11.70 and a twelve month high of $21.70.

Insider Transactions at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the completion of the transaction, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anthony J. Recupero sold 3,305 shares of SI-BONE stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 233,412 shares in the company, valued at approximately $3,169,734.96. The trade was a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,093 shares of company stock valued at $299,558. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its position in SI-BONE by 1.5% during the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after purchasing an additional 852 shares during the last quarter. Arizona State Retirement System raised its position in shares of SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 acquiring an additional 1,105 shares during the last quarter. FMR LLC lifted its holdings in shares of SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in SI-BONE by 7.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after acquiring an additional 1,372 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.