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

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a research report issued on Tuesday,Benzinga reports. They currently have a $22.00 target price on the stock, up from their prior target price of $18.00. Truist Financial’s price objective indicates a potential upside of 19.99% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of SI-BONE in a report on Tuesday. Needham & Company LLC boosted their target price on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $24.50.

SI-BONE Price Performance

SIBN stock traded up $0.87 during trading on Tuesday, hitting $18.34. 390,986 shares of the company’s stock traded hands, compared to its average volume of 337,802. The business has a fifty day simple moving average of $15.73 and a 200 day simple moving average of $14.69. SI-BONE has a 52 week low of $11.70 and a 52 week high of $20.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The stock has a market capitalization of $768.93 million, a price-to-earnings ratio of -19.93 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. The firm had revenue of $49.00 million for the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. As a group, research analysts expect that SI-BONE will post -0.78 EPS for the current fiscal year.

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,311 shares of company stock valued at $130,356. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SIBN. FMR LLC lifted its position in SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of SI-BONE during the 4th quarter valued at $40,000. Mainstream Capital Management LLC acquired a new stake in shares of SI-BONE in the 4th quarter worth $53,000. R Squared Ltd purchased a new position in SI-BONE during the 4th quarter worth $73,000. Finally, KLP Kapitalforvaltning AS acquired a new position in SI-BONE during the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Company Profile

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.