SI-BONE (NASDAQ:SIBN – Get Rating) had its target price dropped by analysts at Needham & Company LLC from $28.00 to $24.00 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 45.10% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on SIBN. JMP Securities restated a “buy” rating and set a $36.00 price objective on shares of SI-BONE in a research note on Wednesday, June 1st. Morgan Stanley decreased their price objective on SI-BONE from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Canaccord Genuity Group decreased their price objective on SI-BONE from $32.00 to $25.00 in a research note on Tuesday, May 10th. Finally, Truist Financial decreased their price objective on SI-BONE to $17.00 in a research note on Friday, July 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.14.
SI-BONE Price Performance
SIBN opened at $16.54 on Tuesday. SI-BONE has a 12-month low of $11.89 and a 12-month high of $25.41. The company has a current ratio of 10.44, a quick ratio of 9.48 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $14.06 and its 200-day simple moving average is $17.46. The company has a market capitalization of $560.38 million, a price-to-earnings ratio of -8.94 and a beta of 1.35.
SI-BONE (NASDAQ:SIBN – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.09). The firm had revenue of $22.44 million for the quarter, compared to the consensus estimate of $22.37 million. SI-BONE had a negative return on equity of 44.52% and a negative net margin of 67.00%. During the same period in the previous year, the company posted ($0.37) EPS. On average, equities research analysts anticipate that SI-BONE will post -1.93 earnings per share for the current fiscal year.
Insider Buying and Selling at SI-BONE
In other SI-BONE news, SVP Michael A. Pisetsky sold 3,466 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $12.58, for a total value of $43,602.28. Following the completion of the sale, the senior vice president now directly owns 123,581 shares in the company, valued at $1,554,648.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jeffrey W. Dunn sold 2,116 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $14.28, for a total value of $30,216.48. Following the transaction, the director now directly owns 135,267 shares of the company’s stock, valued at $1,931,612.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Pisetsky sold 3,466 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $12.58, for a total value of $43,602.28. Following the completion of the transaction, the senior vice president now directly owns 123,581 shares in the company, valued at $1,554,648.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,439 shares of company stock worth $365,329. 5.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of SIBN. Amalgamated Bank acquired a new stake in SI-BONE during the first quarter worth about $120,000. BNP Paribas Arbitrage SA grew its holdings in SI-BONE by 19.2% during the fourth quarter. BNP Paribas Arbitrage SA now owns 7,139 shares of the company’s stock worth $159,000 after acquiring an additional 1,148 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in SI-BONE during the fourth quarter worth about $204,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in SI-BONE by 53.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,937 shares of the company’s stock worth $210,000 after acquiring an additional 5,559 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in SI-BONE during the first quarter worth about $220,000. 99.36% of the stock is owned by institutional investors and hedge funds.
About SI-BONE
SI-BONE, Inc, a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures.