SI-BONE’s (SIBN) Buy Rating Reiterated at Truist Financial

Truist Financial reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note published on Tuesday,Benzinga reports. Truist Financial currently has a $22.00 price target on the stock, up from their previous price target of $18.00.

Other research analysts have also issued reports about the stock. Needham & Company LLC boosted their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.50.

SI-BONE Stock Performance

Shares of NASDAQ SIBN opened at $17.81 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The stock has a 50 day moving average price of $16.01 and a 200 day moving average price of $14.76. The stock has a market capitalization of $746.92 million, a PE ratio of -19.36 and a beta of 1.17. SI-BONE has a 52 week low of $11.70 and a 52 week high of $19.16.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data 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 return on equity of 22.51% and a negative net margin of 23.82%. Analysts predict that SI-BONE will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the sale, the insider now owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,311 shares of company stock worth $130,356. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SI-BONE by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock valued at $328,000 after acquiring an additional 988 shares during the period. FMR LLC raised its stake in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares in the last quarter. Invesco Ltd. raised its stake in SI-BONE by 8.9% in the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after purchasing an additional 1,413 shares in the last quarter. Rhumbline Advisers boosted its holdings in SI-BONE by 3.0% in the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after purchasing an additional 1,683 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after purchasing an additional 1,745 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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.