Cantor Fitzgerald Reaffirms “Overweight” Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $25.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 36.75% from the company’s current price.

Several other brokerages have also recently weighed in on SIBN. Truist Financial boosted their price target 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. Needham & Company LLC boosted their target price on shares of SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE presently has an average rating of “Buy” and a consensus price target of $23.83.

SI-BONE Stock Up 2.5 %

SIBN opened at $18.28 on Tuesday. The company has a market capitalization of $766.67 million, a PE ratio of -20.76 and a beta of 1.17. The firm has a 50-day simple moving average of $15.73 and a two-hundred day simple moving average of $14.69. 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 52 week low of $11.70 and a 52 week high of $20.60.

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

Insider Buying and Selling at SI-BONE

In other news, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock worth $130,356 over the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SIBN. FMR LLC grew its stake in SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of SI-BONE in the fourth quarter valued at approximately $40,000. Mainstream Capital Management LLC bought a new position in SI-BONE in the fourth quarter worth approximately $53,000. R Squared Ltd purchased a new position in SI-BONE during the 4th quarter worth $73,000. Finally, KLP Kapitalforvaltning AS purchased a new position in SI-BONE during the 4th quarter worth $97,000. Hedge funds and other 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.