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

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $27.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 86.46% from the stock’s previous close.

A number of other equities analysts have also weighed in on SIBN. Piper Sandler started coverage on shares of SI-BONE in a research report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Morgan Stanley upped their price target on shares of SI-BONE from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a research report on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.67.

SI-BONE Stock Performance

NASDAQ:SIBN opened at $14.48 on Tuesday. The firm has a 50 day simple moving average of $15.87 and a 200-day simple moving average of $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. The firm has a market cap of $596.58 million, a PE ratio of -12.70 and a beta of 1.24. SI-BONE has a 1-year low of $13.96 and a 1-year high of $29.51.

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

Insider Transactions at SI-BONE

In other news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the sale, the insider now owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the transaction, the chief financial officer now directly owns 205,516 shares in the company, valued at approximately $3,175,222.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total transaction of $56,010.60. Following the transaction, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The disclosure for this sale can be found here. Insiders sold 11,905 shares of company stock valued at $190,273 over the last 90 days. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC acquired a new position in shares of SI-BONE in the 3rd quarter valued at about $55,000. Amalgamated Bank boosted its holdings in shares of SI-BONE by 12.9% in the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after buying an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after buying an additional 2,437 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SI-BONE by 14.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock valued at $179,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Arizona State Retirement System lifted its position in SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after purchasing an additional 762 shares during the last quarter. 98.11% of the stock is currently owned by 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.