SI-BONE (NASDAQ:SIBN) Trading 5.4% Higher

SI-BONE, Inc. (NASDAQ:SIBN)’s stock price rose 5.4% during trading on Monday . The stock traded as high as $14.12 and last traded at $14.10. Approximately 75,619 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 379,679 shares. The stock had previously closed at $13.38.

Analysts Set New Price Targets

SIBN has been the subject of several recent analyst reports. Needham & Company LLC decreased their target price on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Morgan Stanley decreased their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Truist Financial dropped their target price on SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, SI-BONE presently has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

The stock has a 50 day moving average price of $15.20 and a two-hundred day moving average price of $14.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. The company has a market capitalization of $571.99 million, a PE ratio of -12.28 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The company had revenue of $39.97 million during the quarter, compared to the consensus estimate of $38.95 million. During the same period last year, the business earned ($0.30) EPS. Equities analysts forecast that SI-BONE, Inc. will post -0.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.92, for a total value of $42,752.28. Following the completion of the sale, the insider now directly owns 243,629 shares in the company, valued at $3,147,686.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anthony J. Recupero sold 3,309 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the sale, the insider now owns 243,629 shares in the company, valued at approximately $3,147,686.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the transaction, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. The disclosure for this sale can be found here. Insiders sold 25,023 shares of company stock valued at $347,749 over the last 90 days. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of SI-BONE

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Granahan Investment Management LLC lifted its stake in shares of SI-BONE by 13.2% in the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock valued at $27,003,000 after buying an additional 150,217 shares during the period. Bullseye Asset Management LLC grew its holdings in shares of SI-BONE by 218.6% during the 4th quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock worth $2,141,000 after purchasing an additional 70,000 shares in the last quarter. Wellington Management Group LLP increased its position in shares of SI-BONE by 34.9% during the fourth 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 during the period. Bellevue Group AG acquired a new position in shares of SI-BONE in the fourth quarter valued at $2,628,000. Finally, Champlain Investment Partners LLC lifted its position in SI-BONE by 104.8% in the first 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 period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.