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

Needham & Company LLC reaffirmed their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research report report published on Monday,Benzinga reports. The firm currently has a $19.00 target price on the stock.

Separately, Truist Financial upped their target price 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

Shares of NASDAQ:SIBN opened at $16.23 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The firm has a fifty day moving average price of $13.73 and a 200 day moving average price of $14.24. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $21.64. The firm has a market cap of $680.65 million, a price-to-earnings ratio of -17.64 and a beta of 1.16.

Insider Activity at SI-BONE

In other news, CEO Laura Francis sold 10,048 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. This represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total transaction of $51,013.00. Following the completion of the sale, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. This represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,348 shares of company stock valued at $356,349 over the last 90 days. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SI-BONE

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its stake in shares of SI-BONE by 29.0% in the third quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock valued at $1,081,000 after acquiring an additional 17,410 shares during the period. Millrace Asset Group Inc. bought a new position in shares of SI-BONE in the third quarter worth about $1,056,000. Champlain Investment Partners LLC grew its holdings in shares of SI-BONE by 14.7% in the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after purchasing an additional 358,821 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of SI-BONE by 41.3% in the third quarter. Impax Asset Management Group plc now owns 758,521 shares of the company’s stock worth $10,604,000 after purchasing an additional 221,604 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of SI-BONE by 22.8% in the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after purchasing an additional 368,637 shares during the last quarter. Hedge funds and other 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.