SI-BONE (NASDAQ:SIBN) Price Target Cut to $25.00

SI-BONE (NASDAQ:SIBN) had its target price dropped by investment analysts at Morgan Stanley from $26.00 to $25.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 62.02% from the stock’s previous close.

A number of other research analysts also recently issued reports on SIBN. Truist Financial reissued a “buy” rating and issued a $24.00 price target (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 27th. Piper Sandler started coverage on SI-BONE in a research note on Thursday, March 28th. They set an “overweight” rating and a $25.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $27.00 target price on shares of SI-BONE in a research note on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE has a consensus rating of “Buy” and a consensus price target of $27.29.

SI-BONE Stock Performance

NASDAQ:SIBN traded up $0.95 during trading hours on Tuesday, reaching $15.43. The company had a trading volume of 291,010 shares, compared to its average volume of 428,505. SI-BONE has a 1-year low of $13.96 and a 1-year high of $29.51. The firm has a market cap of $635.72 million, a PE ratio of -13.49 and a beta of 1.24. The business’s 50 day moving average price is $15.87 and its 200-day moving average price is $18.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The company had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. Research analysts forecast that SI-BONE will post -0.98 EPS for the current year.

Insider Activity

In other SI-BONE news, Director Mika Nishimura sold 2,500 shares of SI-BONE stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total transaction of $40,550.00. Following the transaction, the director now directly owns 19,350 shares of the company’s stock, valued at $313,857. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now directly owns 19,350 shares of the company’s stock, valued at approximately $313,857. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the transaction, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at $3,175,222.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,905 shares of company stock valued at $190,273. 5.40% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Advisory Inc. raised its stake in shares of SI-BONE by 5.4% during the 4th quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company’s stock worth $88,320,000 after buying an additional 214,089 shares in the last quarter. First Light Asset Management LLC increased its stake in SI-BONE by 0.9% in the 4th quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company’s stock valued at $53,470,000 after purchasing an additional 23,299 shares in the last quarter. Vanguard Group Inc. increased its stake in SI-BONE by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,308,516 shares of the company’s stock valued at $49,033,000 after purchasing an additional 155,121 shares in the last quarter. Granahan Investment Management LLC increased its stake in SI-BONE by 13.2% in the 4th quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock valued at $27,003,000 after purchasing an additional 150,217 shares in the last quarter. Finally, Wellington Management Group LLP increased 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 valued at $17,150,000 after purchasing an additional 211,209 shares in 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.