Truist Financial Lowers SI-BONE (NASDAQ:SIBN) Price Target to $16.00

SI-BONE (NASDAQ:SIBN - Get Free Report) had its price target lowered by investment analysts at Truist Financial from $18.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 22.14% from the company's current price.

Several other research firms have also recently commented on SIBN. Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC cut their price objective on shares of SI-BONE from $27.00 to $19.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE has a consensus rating of "Buy" and an average target price of $22.67.

SI-BONE Stock Performance

SIBN stock traded down $0.03 during mid-day trading on Monday, reaching $13.10. The company had a trading volume of 225,865 shares, compared to its average volume of 383,911. The stock's 50-day simple moving average is $14.75 and its two-hundred day simple moving average is $14.57. The stock has a market capitalization of $546.14 million, a P/E ratio of -12.97 and a beta of 1.22. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22. SI-BONE has a one year low of $11.76 and a one year high of $21.70.

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. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The firm had revenue of $39.97 million during the quarter, compared to analyst estimates of $38.95 million. During the same period in the previous year, the business posted ($0.30) EPS. Research analysts anticipate that SI-BONE will post -0.89 EPS for the current year.

Insider Activity

In other news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the transaction, the insider now owns 236,717 shares of the company's stock, valued at $3,354,279.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other SI-BONE news, CFO Anshul Maheshwari sold 2,418 shares of SI-BONE stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.87, for a total transaction of $33,537.66. Following the transaction, the chief financial officer now directly owns 198,762 shares in the company, valued at approximately $2,756,828.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 2,087 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now directly owns 236,717 shares of the company's stock, valued at approximately $3,354,279.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,019 shares of company stock worth $349,879 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of SI-BONE by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company's stock valued at $17,150,000 after acquiring an additional 211,209 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of SI-BONE during the 1st quarter worth about $339,000. RiverPark Advisors LLC lifted its holdings in shares of SI-BONE by 260.4% during the 1st quarter. RiverPark Advisors LLC now owns 11,357 shares of the company's stock valued at $186,000 after buying an additional 8,206 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of SI-BONE by 1.8% in 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. Finally, Champlain Investment Partners LLC increased its holdings in SI-BONE by 104.8% in the first quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company's stock worth $40,158,000 after buying an additional 1,255,610 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.