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

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 52.73% from the company’s previous close.

SIBN has been the subject of several other reports. Truist Financial decreased their target price on shares of SI-BONE from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley dropped their target price on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.00.

SI-BONE Stock Performance

SIBN opened at $12.44 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. The business’s 50-day simple moving average is $14.07 and its 200 day simple moving average is $14.30. The firm has a market capitalization of $518.67 million, a PE ratio of -13.52 and a beta of 1.22. SI-BONE has a 52-week low of $11.76 and a 52-week high of $21.70.

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total transaction of $29,572.79. Following the completion of the sale, the insider now directly owns 236,717 shares in the company, valued at $3,354,279.89. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 7,147 shares of company stock valued at $102,194. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of large investors have recently made changes to their positions in SIBN. FMR LLC grew its holdings in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of SI-BONE in the second quarter valued at about $61,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in SI-BONE by 24.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after acquiring an additional 2,108 shares during the period. Arizona State Retirement System increased its position in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after acquiring an additional 903 shares during the period. Finally, Walleye Capital LLC bought a new stake in SI-BONE in the 3rd quarter valued at about $144,000. Institutional investors 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.