SI-BONE’s (SIBN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $19.00 price target on the stock.

A number of other research firms have also recently issued reports on SIBN. Morgan Stanley cut their target price 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. Truist Financial raised their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Down 1.4 %

Shares of SIBN opened at $12.15 on Wednesday. The business’s fifty day moving average price is $13.85 and its 200 day moving average price is $14.25. SI-BONE has a 12-month low of $11.76 and a 12-month high of $21.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25.

Insider Buying and Selling

In other news, CEO Laura Francis sold 10,048 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the sale, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,305 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total transaction of $44,881.90. Following the transaction, the insider now directly owns 233,412 shares in the company, valued at $3,169,734.96. The trade was a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,093 shares of company stock valued at $299,558 over the last three months. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of SI-BONE by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after acquiring an additional 43,670 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of SI-BONE by 79.8% during the 1st quarter. Bessemer Group Inc. now owns 37,859 shares of the company’s stock valued at $620,000 after acquiring an additional 16,800 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of SI-BONE by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after acquiring an additional 1,372 shares in the last quarter. Bellevue Group AG grew its holdings in shares of SI-BONE by 810.5% during the 1st quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock valued at $18,661,000 after acquiring an additional 1,014,756 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of SI-BONE by 13.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock valued at $17,368,000 after acquiring an additional 128,702 shares in the last quarter. Institutional investors and hedge funds 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.