SI-BONE, Inc. (NASDAQ:SIBN) Receives $24.50 Average Price Target from Brokerages

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) has received an average recommendation of "Buy" from the six ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have covered the stock in the last year is $24.50.

A number of research analysts have commented on SIBN shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC upped their price target on shares of SI-BONE from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Finally, Truist Financial restated a "buy" rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th.

Insider Activity at SI-BONE

In related news, insider Anthony J. Recupero sold 3,670 shares of the firm'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 transaction of $51,013.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm's stock in a transaction that occurred on 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 approximately $2,633,427.29. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock worth $130,356 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. Jane Street Group LLC grew its position in SI-BONE by 29.0% in the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company's stock worth $1,081,000 after purchasing an additional 17,410 shares during the period. Millrace Asset Group Inc. bought a new position in shares of SI-BONE in the third quarter worth approximately $1,056,000. Champlain Investment Partners LLC boosted its position in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after purchasing an additional 358,821 shares during the period. Impax Asset Management Group plc grew its position in shares of SI-BONE by 41.3% during the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock worth $10,604,000 after purchasing an additional 221,604 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in SI-BONE by 9.4% during the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company's stock valued at $265,000 after purchasing an additional 1,745 shares during the period. 98.11% of the stock is owned by institutional investors.

SI-BONE Stock Performance

SIBN traded down $0.55 during trading hours on Monday, hitting $16.40. The stock had a trading volume of 112,274 shares, compared to its average volume of 358,240. The company's fifty day simple moving average is $16.27 and its 200 day simple moving average is $14.85. The stock has a market cap of $696.10 million, a PE ratio of -17.85 and a beta of 1.17. SI-BONE has a 1 year low of $11.70 and a 1 year high of $19.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

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

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.