Truist Financial Cuts SI-BONE (NASDAQ:SIBN) Price Target to $16.00

SI-BONE (NASDAQ:SIBN) had its price target reduced by equities researchers at Truist Financial from $18.00 to $16.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 21.58% from the stock’s previous close.

SIBN has been the topic of several other research reports. Needham & Company LLC cut their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley dropped their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE has a consensus rating of “Buy” and an average price target of $22.67.

SI-BONE Stock Performance

SI-BONE stock traded up $0.03 during mid-day trading on Monday, hitting $13.16. 30,790 shares of the company’s stock traded hands, compared to its average volume of 382,840. The firm has a 50 day moving average price of $14.77 and a 200 day moving average price of $14.59. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22. The company has a market cap of $548.64 million, a PE ratio of -12.85 and a beta of 1.22. SI-BONE has a one year low of $11.76 and a one year high of $21.70.

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

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 3,905 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $54,045.20. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Anthony J. Recupero sold 3,905 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $54,045.20. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura Francis sold 9,967 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total value of $137,943.28. Following the completion of the sale, the chief executive officer now directly owns 492,923 shares of the company’s stock, valued at approximately $6,822,054.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,019 shares of company stock valued at $349,879 over the last three months. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Several hedge funds have recently bought and sold shares of SIBN. Wellington Management Group LLP lifted its stake in SI-BONE by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock worth $17,150,000 after acquiring an additional 211,209 shares in the last quarter. Diversified Trust Co acquired a new position in SI-BONE in the 1st quarter worth about $339,000. RiverPark Advisors LLC increased its position in SI-BONE by 260.4% in the 1st 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. Vanguard Group Inc. increased its position in SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after purchasing an additional 43,670 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its position in SI-BONE by 104.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock worth $40,158,000 after purchasing an additional 1,255,610 shares during the last quarter. 98.11% of the stock is 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.