SI-BONE, Inc. (NASDAQ:SIBN) Receives Consensus Rating of “Buy” from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.50.

Several analysts have recently commented on the stock. Needham & Company LLC increased their target price on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Finally, Truist Financial restated a “buy” rating and set a $22.00 price target (up previously from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th.

SI-BONE Stock Performance

Shares of SIBN stock opened at $18.12 on Monday. The firm has a 50-day moving average of $16.11 and a 200-day moving average of $14.81. The company has a market cap of $769.25 million, a P/E ratio of -19.70 and a beta of 1.17. 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 has a one year low of $11.70 and a one year high of $19.16.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. Equities research analysts forecast that SI-BONE will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the transaction, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,311 shares of company stock worth $130,356 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SI-BONE

A number of large investors have recently modified their holdings of SIBN. Harbor Capital Advisors Inc. boosted its position in shares of SI-BONE by 222.5% in the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company’s stock valued at $8,674,000 after acquiring an additional 428,110 shares during the period. Champlain Investment Partners LLC raised its stake in SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after purchasing an additional 358,821 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in SI-BONE by 21.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after purchasing an additional 350,970 shares in the last quarter. American Century Companies Inc. raised its stake in SI-BONE by 11.0% in 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. Finally, Impax Asset Management Group plc raised its stake in SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock valued at $10,604,000 after purchasing an additional 221,604 shares in the last quarter. 98.11% of the stock is currently owned by 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.