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

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $19.00 price objective on the stock.

A number of other research firms have also issued reports on SIBN. Truist Financial lowered their target price on shares of SI-BONE from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley lowered their target price on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE has a consensus rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Up 3.9 %

SI-BONE stock opened at $12.92 on Wednesday. The company has a market capitalization of $541.86 million, a P/E ratio of -14.04 and a beta of 1.22. The firm’s fifty day simple moving average is $14.03 and its 200-day simple moving average is $14.29. The company has a current ratio of 8.25, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22. SI-BONE has a 1-year low of $11.76 and a 1-year high of $21.70.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,305 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,147 shares of company stock worth $102,194 in the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of SI-BONE during the 2nd quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 buying an additional 2,108 shares during the period. Arizona State Retirement System grew its position in shares of SI-BONE by 9.0% during the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after buying an additional 903 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of SI-BONE during the 3rd quarter worth approximately $144,000. 98.11% of the stock is 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.