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

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $19.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 21.02% from the company’s previous close.

Separately, Truist Financial upped their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Down 3.3 %

NASDAQ SIBN opened at $15.70 on Monday. The business has a fifty day moving average price of $13.73 and a two-hundred day moving average price of $14.24. The stock has a market capitalization of $658.43 million, a PE ratio of -17.07 and a beta of 1.16. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $21.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

Insiders Place Their Bets

In other SI-BONE news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares in the company, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laura Francis sold 10,048 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares in the company, valued at approximately $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SI-BONE

Large investors have recently modified their holdings of the business. FMR LLC grew its stake in shares of SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in SI-BONE during the 2nd quarter worth about $61,000. Arizona State Retirement System lifted its holdings in SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after buying an additional 903 shares during the period. Walleye Capital LLC bought a new stake in shares of SI-BONE in the 3rd quarter valued at about $144,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of SI-BONE in the second quarter valued at about $151,000. Institutional investors own 98.11% of the company’s stock.

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.