Needham & Company LLC Reaffirms Buy Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $19.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 54.36% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Truist Financial upped their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Trading Up 1.3 %

NASDAQ:SIBN opened at $12.31 on Wednesday. The company has a market capitalization of $516.24 million, a PE ratio of -13.38 and a beta of 1.22. SI-BONE has a 52-week low of $11.70 and a 52-week high of $21.70. The stock’s 50 day moving average price is $13.79 and its 200 day moving average price is $14.23. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,937 shares of SI-BONE stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.60, for a total value of $49,606.20. Following the completion of the transaction, the insider now owns 228,554 shares in the company, valued at approximately $2,879,780.40. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.68, for a total transaction of $30,926.52. Following the sale, the chief financial officer now owns 194,623 shares of the company’s stock, valued at approximately $2,467,819.64. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,093 shares of company stock valued at $299,558 in the last ninety days. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Several hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. boosted its stake in SI-BONE by 440.5% during the second quarter. Harbor Capital Advisors Inc. now owns 192,380 shares of the company’s stock valued at $2,487,000 after buying an additional 156,790 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position 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 purchasing an additional 128,702 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after purchasing an additional 43,670 shares in the last quarter. American Century Companies Inc. lifted its stake in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after purchasing an additional 368,637 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in SI-BONE by 41.3% during the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after buying an additional 221,604 shares in the last quarter. Institutional investors 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.