SI-BONE (NASDAQ:SIBN) had its price objective upped by analysts at Truist Securities from $35.00 to $43.00 in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. Truist Securities' target price would indicate a potential upside of 30.30% from the company's current price.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of SI-BONE from a "hold" rating to a "sell" rating in a research note on Friday, March 12th. Morgan Stanley raised their price objective on shares of SI-BONE from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist raised their price objective on SI-BONE from $35.00 to $43.00 in a report on Tuesday. Needham & Company LLC lifted their price target on shares of SI-BONE from $34.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Canaccord Genuity increased their price target on shares of SI-BONE from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and a consensus target price of $36.63.
Shares of SI-BONE stock traded down $2.96 during trading on Tuesday, reaching $33.00. 25,628 shares of the stock traded hands, compared to its average volume of 287,842. The company has a debt-to-equity ratio of 0.39, a current ratio of 12.65 and a quick ratio of 12.22. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -20.62 and a beta of 1.41. SI-BONE has a 52-week low of $14.37 and a 52-week high of $36.78. The business has a fifty day simple moving average of $33.10 and a two-hundred day simple moving average of $28.78.
SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Sunday, May 2nd. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.03. SI-BONE had a negative return on equity of 45.03% and a negative net margin of 61.67%. On average, research analysts predict that SI-BONE will post -1.53 earnings per share for the current fiscal year.
In other news, CFO Laura Francis sold 18,358 shares of SI-BONE stock in a transaction on Thursday, March 18th. The stock was sold at an average price of $33.34, for a total transaction of $612,055.72. Following the transaction, the chief financial officer now owns 197,471 shares in the company, valued at approximately $6,583,683.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Gordon Freund sold 235,887 shares of SI-BONE stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $31.13, for a total transaction of $7,343,162.31. The disclosure for this sale can be found here. Insiders sold 1,067,472 shares of company stock valued at $32,658,438 over the last 90 days. Company insiders own 15.50% of the company's stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dorsey Wright & Associates boosted its position in shares of SI-BONE by 135.0% during the first quarter. Dorsey Wright & Associates now owns 1,128 shares of the company's stock worth $36,000 after buying an additional 648 shares during the period. Lazard Asset Management LLC acquired a new position in SI-BONE during the 4th quarter worth about $41,000. Cubist Systematic Strategies LLC acquired a new position in SI-BONE during the 3rd quarter worth about $171,000. Citigroup Inc. boosted its holdings in SI-BONE by 263.0% during the 4th quarter. Citigroup Inc. now owns 6,513 shares of the company's stock valued at $195,000 after acquiring an additional 4,719 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in SI-BONE in the 4th quarter valued at about $219,000. 65.26% of the stock is currently owned by institutional investors.
SI-BONE Company Profile
SI-BONE, Inc, a medical device company, develops implantable devices used in the surgical treatment of the sacropelvic anatomy in the United States and Internationally. The company offers iFuse, a minimally invasive surgical implant system, which is intended to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain.
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