SI-BONE (NASDAQ:SIBN) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SI-BONE (NASDAQ:SIBN - Free Report) had its price objective hoisted by Needham & Company LLC from $20.00 to $24.00 in a report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Truist Financial lifted their price target on shares of SI-BONE from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has an average rating of "Buy" and an average target price of $24.50.

SI-BONE Price Performance

SIBN traded up $0.31 during trading on Tuesday, reaching $18.12. The stock had a trading volume of 463,449 shares, compared to its average volume of 360,089. The stock has a 50 day moving average of $16.11 and a two-hundred day moving average of $14.79. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $759.92 million, a price-to-earnings ratio of -19.70 and a beta of 1.17. SI-BONE has a 1-year low of $11.70 and a 1-year high of $19.16.

SI-BONE (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $49.00 million for the quarter, compared to analysts' expectations of $48.87 million. As a group, equities analysts anticipate that SI-BONE will post -0.78 EPS for the current fiscal year.

Remove Ads

Insiders Place Their Bets

In other news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony J. Recupero sold 3,670 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 222,814 shares of the company's stock, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,311 shares of company stock worth $130,356 over the last ninety days. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SI-BONE

Hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in shares of SI-BONE by 222.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company's stock valued at $8,674,000 after purchasing an additional 428,110 shares during the period. Impax Asset Management Group plc grew its position in SI-BONE by 41.3% during the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock valued at $10,604,000 after purchasing an additional 221,604 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SI-BONE by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company's stock valued at $4,405,000 after buying an additional 5,966 shares during the period. Champlain Investment Partners LLC lifted its position in SI-BONE by 14.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after buying an additional 358,821 shares in the last quarter. Finally, Millrace Asset Group Inc. purchased a new position in shares of SI-BONE during the 3rd quarter valued at $1,056,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

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.