SI-BONE (NASDAQ:SIBN) Hits New 1-Year High on Analyst Upgrade

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report) shares hit a new 52-week high on Wednesday after Needham & Company LLC raised their price target on the stock from $20.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. SI-BONE traded as high as $19.35 and last traded at $17.90, with a volume of 381 shares trading hands. The stock had previously closed at $18.44.

Separately, Truist Financial boosted their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE currently has a consensus rating of "Buy" and an average price target of $24.50.

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,670 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were 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 in the company, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the sale, the chief financial officer now owns 189,319 shares in the company, 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 sold a total of 9,311 shares of company stock valued at $130,356 in the last ninety days. Insiders own 3.90% of the company's stock.

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Institutional Investors Weigh In On SI-BONE

Several institutional investors and hedge funds have recently bought and sold shares of SIBN. Harbor Capital Advisors Inc. raised its stake in SI-BONE by 222.5% during the third quarter. Harbor Capital Advisors Inc. now owns 620,490 shares of the company's stock worth $8,674,000 after acquiring an additional 428,110 shares during the period. Champlain Investment Partners LLC raised its stake in SI-BONE by 14.7% during the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company's stock worth $39,145,000 after acquiring an additional 358,821 shares during the period. Silvercrest Asset Management Group LLC raised its stake in SI-BONE by 21.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company's stock worth $27,392,000 after acquiring an additional 350,970 shares during the period. American Century Companies Inc. raised its stake in SI-BONE by 11.0% during the fourth quarter. American Century Companies Inc. now owns 2,378,068 shares of the company's stock worth $33,341,000 after acquiring an additional 236,167 shares during the period. Finally, Impax Asset Management Group plc raised its stake 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 worth $10,604,000 after acquiring an additional 221,604 shares during the period. Institutional investors and hedge funds own 98.11% of the company's stock.

SI-BONE Trading Up 1.7 %

The stock has a market cap of $769.25 million, a price-to-earnings ratio of -19.70 and a beta of 1.17. The firm's 50 day moving average is $16.11 and its two-hundred day moving average is $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.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $48.87 million. Equities analysts anticipate that SI-BONE, Inc. will post -0.78 EPS 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.