SI-BONE, Inc. (NASDAQ:SIBN) Receives Average Recommendation of “Buy” from Analysts

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.00.

A number of research analysts recently issued reports on SIBN shares. Truist Financial raised their target price on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley lowered their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of SI-BONE in a research report on Wednesday, November 20th.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $12.68, for a total transaction of $30,926.52. Following the completion of the transaction, the chief financial officer now owns 194,623 shares of the company’s stock, valued at $2,467,819.64. This represents a 1.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony J. Recupero sold 3,305 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,093 shares of company stock worth $299,558. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in shares of SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of SI-BONE during the 2nd quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of SI-BONE by 24.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after purchasing an additional 2,108 shares in the last quarter. Arizona State Retirement System increased its position in shares of SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after purchasing an additional 903 shares during the period. Finally, Walleye Capital LLC acquired a new position in SI-BONE in the third quarter valued at about $144,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Price Performance

NASDAQ SIBN opened at $13.27 on Friday. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $556.52 million, a PE ratio of -14.21 and a beta of 1.22. SI-BONE has a 12-month low of $11.70 and a 12-month high of $21.70. The company has a 50 day moving average price of $13.61 and a two-hundred day moving average price of $14.17.

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.