SI-BONE’s (SIBN) Buy Rating Reaffirmed at Truist Financial

Truist Financial reaffirmed their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a report published on Tuesday,Benzinga reports. Truist Financial currently has a $22.00 price target on the stock, up from their previous price target of $18.00.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price target on shares of SI-BONE in a research note on Tuesday. Needham & Company LLC raised their price objective on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. Six equities research 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 target price of $24.50.

SI-BONE Trading Down 1.9 %

SIBN opened at $17.81 on Tuesday. The stock has a market capitalization of $746.92 million, a price-to-earnings ratio of -19.36 and a beta of 1.17. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE has a twelve month low of $11.70 and a twelve month high of $19.16. The company has a 50-day simple moving average of $16.01 and a 200 day simple moving average of $14.76.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. Analysts predict that SI-BONE will post -0.78 EPS for the current fiscal year.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 222,814 shares of the company’s stock, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 5,304 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,311 shares of company stock worth $130,356. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of hedge funds have recently modified their holdings of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SI-BONE by 4.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock worth $328,000 after purchasing an additional 988 shares during the last quarter. FMR LLC increased 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 valued at $33,000 after buying an additional 1,198 shares during the period. Invesco Ltd. increased its stake in shares of SI-BONE by 8.9% in the fourth quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock valued at $241,000 after buying an additional 1,413 shares during the period. Rhumbline Advisers raised its position in shares of SI-BONE by 3.0% during the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock worth $808,000 after acquiring an additional 1,683 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of SI-BONE by 9.4% in the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock worth $265,000 after acquiring an additional 1,745 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

SI-BONE Company Profile

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.