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

Needham & Company LLC reiterated their buy rating on shares of SI-BONE (NASDAQ:SIBN - Free Report) in a report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $19.00 price target on the stock.

Several other analysts also recently weighed in on SIBN. Truist Financial dropped their target price on shares of SI-BONE from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Morgan Stanley lowered their price target on SI-BONE from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $23.00.

SI-BONE Stock Down 15.3 %

NASDAQ:SIBN traded down $2.39 during midday trading on Wednesday, reaching $13.24. 661,226 shares of the stock traded hands, compared to its average volume of 388,487. The business has a 50-day moving average of $14.20 and a two-hundred day moving average of $14.32. The stock has a market capitalization of $551.98 million, a PE ratio of -14.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. SI-BONE has a 12-month low of $11.76 and a 12-month high of $21.70.

Insider Buying and Selling at SI-BONE

In related news, insider Anthony J. Recupero sold 3,905 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $54,045.20. Following the sale, the insider now directly owns 238,804 shares of the company's stock, valued at approximately $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,905 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.84, for a total transaction of $54,045.20. Following the completion of the transaction, the insider now directly owns 238,804 shares in the company, valued at approximately $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,305 shares of the business's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $13.58, for a total transaction of $44,881.90. Following the sale, the insider now directly owns 233,412 shares of the company's stock, valued at $3,169,734.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,017 shares of company stock valued at $349,587. 3.90% of the stock is owned by company insiders.

Institutional Trading of SI-BONE

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after buying an additional 1,198 shares during the period. Millrace Asset Group Inc. purchased a new stake in SI-BONE in the third quarter valued at approximately $1,056,000. Champlain Investment Partners LLC lifted 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 purchasing an additional 358,821 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SI-BONE by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,092 shares of the company's stock worth $4,405,000 after buying an additional 5,966 shares during the period. Finally, Impax Asset Management Group plc grew its stake in shares of SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company's stock valued at $10,604,000 after buying an additional 221,604 shares in the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.