SI-BONE, Inc. (NASDAQ:SIBN) Receives $23.00 Consensus Target Price from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $23.00.

SIBN has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price objective on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Truist Financial cut their price objective on SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Morgan Stanley decreased their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th.

SI-BONE Stock Up 1.6 %

Shares of NASDAQ:SIBN opened at $13.45 on Friday. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. The firm has a market cap of $554.21 million, a price-to-earnings ratio of -12.34 and a beta of 1.22. The stock’s 50-day moving average price is $14.88 and its two-hundred day moving average price is $14.65. SI-BONE has a 12-month low of $11.76 and a 12-month high of $22.56.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.04. SI-BONE had a negative net margin of 27.10% and a negative return on equity of 24.27%. The business had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.95 million. During the same period last year, the company earned ($0.30) earnings per share. On average, research analysts forecast that SI-BONE will post -0.89 EPS for the current year.

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the completion of the sale, the insider now owns 233,412 shares of the company’s stock, valued at $3,169,734.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,905 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $54,045.20. Following the sale, the insider now owns 238,804 shares of the company’s stock, valued at $3,305,047.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,019 shares of company stock valued at $349,879. Corporate insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently made changes to their positions in SIBN. Canada Pension Plan Investment Board acquired a new stake in shares of SI-BONE during the second quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after purchasing an additional 2,108 shares during the last quarter. Arizona State Retirement System raised its stake 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 valued at $141,000 after purchasing an additional 903 shares in the last quarter. RiverPark Advisors LLC lifted its position in shares of SI-BONE by 260.4% during the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock worth $186,000 after purchasing an additional 8,206 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in SI-BONE in the second quarter worth about $151,000. 98.11% of the stock is owned by institutional investors and hedge funds.

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.