Needham & Company LLC Forecasts Strong Price Appreciation for SI-BONE (NASDAQ:SIBN) Stock

SI-BONE (NASDAQ:SIBN) had its price target raised by analysts at Needham & Company LLC from $20.00 to $24.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 37.38% from the stock’s current price.

Separately, Truist Financial raised their price target 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $23.83.

SI-BONE Stock Performance

SI-BONE stock opened at $17.47 on Tuesday. The business has a 50 day moving average of $15.73 and a 200-day moving average of $14.69. The company has a market capitalization of $732.66 million, a P/E ratio of -18.99 and a beta of 1.17. SI-BONE has a 1 year low of $11.70 and a 1 year high of $20.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. On average, equities research analysts predict that SI-BONE will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In other SI-BONE news, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the sale, the insider now owns 222,814 shares in the company, valued at $3,097,114.60. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock valued at $130,356 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of SI-BONE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. Champlain Investment Partners LLC lifted its stake in SI-BONE by 14.7% during the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after acquiring an additional 358,821 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SI-BONE by 11.0% during the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock valued at $33,341,000 after purchasing an additional 236,167 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in SI-BONE by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock worth $27,392,000 after purchasing an additional 350,970 shares during the last quarter. Bellevue Group AG grew its position in SI-BONE by 4.1% in the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock worth $20,189,000 after purchasing an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY increased its stake in SI-BONE by 5.3% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company’s stock valued at $19,432,000 after buying an additional 69,831 shares during the last quarter. 98.11% of the stock is owned by 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.