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

SI-BONE (NASDAQ:SIBNGet Free Report)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $27.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 71.76% from the stock’s previous close.

Several other brokerages have also recently issued reports on SIBN. Truist Financial reaffirmed a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 27th. Morgan Stanley boosted their price objective on SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Piper Sandler assumed coverage on SI-BONE in a research note on Thursday, March 28th. They set an “overweight” rating and a $25.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and a consensus target price of $26.67.

View Our Latest Analysis on SI-BONE

SI-BONE Price Performance

SIBN stock traded up $0.15 during trading on Wednesday, reaching $15.72. The company’s stock had a trading volume of 204,730 shares, compared to its average volume of 456,124. SI-BONE has a 1 year low of $14.88 and a 1 year high of $29.51. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $18.47 and its 200-day moving average is $18.85. The company has a market capitalization of $645.46 million, a P/E ratio of -13.67 and a beta of 1.20.

SI-BONE (NASDAQ:SIBNGet Free Report) last issued its earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The firm had revenue of $38.86 million for the quarter, compared to analysts’ expectations of $38.60 million. On average, research analysts expect that SI-BONE will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares in the company, valued at $313,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares in the company, valued at $313,857. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,330 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the transaction, the insider now owns 255,760 shares of the company’s stock, valued at approximately $4,301,883.20. The disclosure for this sale can be found here. 5.40% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

A number of large investors have recently modified their holdings of SIBN. Quarry LP purchased a new stake in shares of SI-BONE in the fourth quarter valued at approximately $28,000. FMR LLC boosted its holdings in shares of SI-BONE by 28.7% in the first quarter. FMR LLC now owns 2,160 shares of the company’s stock valued at $42,000 after purchasing an additional 482 shares during the period. Comerica Bank bought a new position in SI-BONE in the third quarter worth approximately $47,000. Ensign Peak Advisors Inc bought a new position in SI-BONE in the third quarter worth approximately $48,000. Finally, Coppell Advisory Solutions LLC bought a new position in SI-BONE in the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for SI-BONE (NASDAQ:SIBN)

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