Truist Financial Reiterates "Buy" Rating for SI-BONE (NASDAQ:SIBN)

Truist Financial reiterated their buy rating on shares of SI-BONE (NASDAQ:SIBN - Free Report) in a research report released on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock, up from their prior price objective of $18.00.

Several other brokerages have also issued reports on SIBN. Cantor Fitzgerald reiterated an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday. Needham & Company LLC boosted their target price on SI-BONE from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $24.50.

SI-BONE Stock Up 1.7 %

Shares of SIBN traded up $0.31 on Tuesday, hitting $18.12. The company's stock had a trading volume of 463,449 shares, compared to its average volume of 360,091. 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's fifty day moving average price is $16.11 and its 200-day moving average price is $14.79. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $19.16. The firm has a market capitalization of $769.25 million, a price-to-earnings ratio of -19.70 and a beta of 1.17.

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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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $48.87 million. On average, equities research analysts expect that SI-BONE will post -0.78 EPS for the current year.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 5,304 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the company'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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 9,311 shares of company stock worth $130,356. Corporate insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company's stock worth $33,000 after purchasing an additional 1,198 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of SI-BONE during the 4th quarter worth approximately $40,000. Mainstream Capital Management LLC bought a new stake in shares of SI-BONE during the 4th quarter worth approximately $53,000. R Squared Ltd bought a new stake in shares of SI-BONE during the 4th quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SI-BONE during the 4th quarter worth approximately $97,000. Institutional investors own 98.11% of the company's stock.

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.