Needham & Company LLC Reiterates "Buy" Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC's price target would suggest a potential upside of 17.07% from the company's current price.

Separately, Truist Financial lifted their price objective on SI-BONE from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE currently has a consensus rating of "Buy" and an average target price of $23.00.

SI-BONE Stock Performance

NASDAQ SIBN traded up $2.51 on Monday, hitting $16.23. 660,211 shares of the stock traded hands, compared to its average volume of 335,673. 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 business's fifty day moving average is $13.73 and its two-hundred day moving average is $14.24. SI-BONE has a 12 month low of $11.70 and a 12 month high of $21.64. The firm has a market capitalization of $680.65 million, a price-to-earnings ratio of -17.64 and a beta of 1.16.

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the firm's stock in a transaction dated 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 $3,097,114.60. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anshul Maheshwari sold 2,439 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the transaction, the chief financial officer now directly owns 194,623 shares of the company's stock, valued at $2,467,819.64. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,348 shares of company stock valued at $356,349. Corporate insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after purchasing an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SI-BONE during the second quarter worth approximately $61,000. Arizona State Retirement System lifted its holdings in shares of SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company's stock worth $141,000 after acquiring an additional 903 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of SI-BONE in the 3rd quarter valued at $144,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in shares of SI-BONE in the 2nd quarter valued at $151,000. 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.