SI-BONE (NASDAQ:SIBN) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $24.00 price objective on the stock.

Several other equities research analysts also recently commented on SIBN. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial reissued a “buy” rating and set a $22.00 target price (up from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th.

SI-BONE Trading Up 5.0 %

NASDAQ SIBN opened at $18.35 on Tuesday. The firm has a market capitalization of $780.41 million, a price-to-earnings ratio of -19.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. SI-BONE has a one year low of $11.70 and a one year high of $19.16. The company’s 50 day moving average price is $14.50 and its 200 day moving average price is $14.76.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $47.29 million during the quarter, compared to analysts’ expectations of $45.13 million. On average, sell-side analysts predict that SI-BONE will post -0.78 EPS for the current year.

Insiders Place Their Bets

In other SI-BONE news, SVP Michael A. Pisetsky sold 3,128 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $14.14, for a total transaction of $44,229.92. Following the completion of the transaction, the senior vice president now directly owns 244,878 shares of the company’s stock, valued at $3,462,574.92. This trade represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,311 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $14.15, for a total transaction of $46,850.65. Following the completion of the sale, the insider now owns 284,555 shares in the company, valued at approximately $4,026,453.25. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,775 shares of company stock worth $95,711 in the last three months. 4.00% of the stock is owned by insiders.

Institutional Trading of SI-BONE

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in SI-BONE by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,373 shares of the company’s stock worth $328,000 after acquiring an additional 988 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of SI-BONE by 8.9% in the 4th quarter. Invesco Ltd. now owns 17,203 shares of the company’s stock worth $241,000 after purchasing an additional 1,413 shares during the last quarter. Rhumbline Advisers boosted its position in SI-BONE by 3.0% during the 4th quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after purchasing an additional 1,683 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in SI-BONE in the first quarter worth $34,000. Finally, Barclays PLC lifted its stake in SI-BONE by 2.7% in the fourth quarter. Barclays PLC now owns 99,212 shares of the company’s stock valued at $1,391,000 after buying an additional 2,589 shares during the last quarter. Institutional investors and hedge funds 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.