Truist Financial Trims SI-BONE (NASDAQ:SIBN) Target Price to $16.00

SI-BONE (NASDAQ:SIBN) had its target price trimmed by Truist Financial from $18.00 to $16.00 in a report released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

SIBN has been the topic of a number of other research reports. Needham & Company LLC dropped their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley lowered their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.67.

SI-BONE Stock Performance

SIBN opened at $13.22 on Monday. SI-BONE has a 52-week low of $11.76 and a 52-week high of $21.70. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22. The company has a market cap of $551.14 million, a P/E ratio of -13.09 and a beta of 1.22. The firm’s 50-day moving average price is $14.71 and its 200-day moving average price is $14.54.

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

Insiders Place Their Bets

In other news, CEO Laura Francis sold 9,967 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the transaction, the chief executive officer now owns 492,923 shares in the company, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Laura Francis sold 9,967 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the transaction, the chief executive officer now owns 492,923 shares in the company, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,305 shares of the 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 transaction, the insider now owns 233,412 shares in the company, valued at $3,169,734.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,019 shares of company stock worth $349,879. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 43,670 shares during the last quarter. Champlain Investment Partners LLC raised its stake in SI-BONE by 104.8% in the 1st 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. American Century Companies Inc. increased its stake in shares of SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after acquiring an additional 368,637 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in shares of SI-BONE by 24.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock worth $17,448,000 after acquiring an additional 267,100 shares during the last quarter. Finally, Bellevue Group AG increased its stake in shares of SI-BONE by 810.5% in the 1st quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock worth $18,661,000 after acquiring an additional 1,014,756 shares during the last quarter. 98.11% of the stock is 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.