Truist Financial Forecasts Strong Price Appreciation for SI-BONE (NASDAQ:SIBN) Stock

SI-BONE (NASDAQ:SIBN) had its price objective lifted by Truist Financial from $16.00 to $18.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts have also commented on the company. Morgan Stanley dropped their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Performance

NASDAQ:SIBN opened at $12.92 on Wednesday. The firm has a market cap of $541.86 million, a PE ratio of -14.04 and a beta of 1.22. SI-BONE has a fifty-two week low of $11.76 and a fifty-two week high of $21.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 8.25. The business has a 50 day moving average price of $14.03 and a 200-day moving average price of $14.29.

Insiders Place Their Bets

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now directly owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 7,147 shares of company stock valued at $102,194. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC lifted its position in shares of 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 buying an additional 358,821 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after buying an additional 43,670 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares in the last quarter. Bellevue Group AG lifted its position in shares of SI-BONE by 4.1% during the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after buying an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in shares of SI-BONE by 24.7% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after buying an additional 267,100 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.