SI-BONE, Inc. (NASDAQ:SIBN) Given Average Rating of "Buy" by Brokerages

Shares of SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) have been assigned an average rating of "Buy" from the six ratings firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.00.

Several analysts have recently commented on SIBN shares. Truist Financial decreased their target price on SI-BONE from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. Needham & Company LLC lowered their price objective on shares of SI-BONE from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of SI-BONE from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th.

SI-BONE Price Performance

Shares of SI-BONE stock traded up $0.83 during midday trading on Friday, hitting $14.68. 419,623 shares of the company were exchanged, compared to its average volume of 384,071. The firm has a 50 day simple moving average of $14.98 and a 200-day simple moving average of $14.70. SI-BONE has a 52 week low of $11.76 and a 52 week high of $22.56. The firm has a market cap of $604.89 million, a P/E ratio of -13.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.17 and a quick ratio of 8.12.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.04. The company had revenue of $39.97 million during the quarter, compared to analysts' expectations of $38.95 million. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. During the same quarter in the previous year, the company posted ($0.30) earnings per share. Research analysts forecast that SI-BONE will post -0.89 earnings per share for the current year.

Insider Activity

In related news, insider Anthony J. Recupero sold 3,905 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $54,045.20. Following the transaction, the insider now directly owns 238,804 shares in the company, valued at $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Anthony J. Recupero sold 3,905 shares of the company's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $54,045.20. Following the completion of the sale, the insider now owns 238,804 shares in the company, valued at approximately $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,418 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.87, for a total value of $33,537.66. Following the completion of the transaction, the chief financial officer now directly owns 198,762 shares in the company, valued at $2,756,828.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,714 shares of company stock valued at $304,997. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SIBN. Canada Pension Plan Investment Board bought a new position in shares of SI-BONE during the second quarter worth $61,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SI-BONE by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company's stock worth $138,000 after acquiring an additional 2,108 shares in the last quarter. Arizona State Retirement System grew its stake in SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock valued at $141,000 after acquiring an additional 903 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of SI-BONE in the second quarter worth about $151,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of SI-BONE during the second quarter worth about $152,000. Institutional investors and hedge funds own 98.11% of the company's stock.

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.