SI-BONE (NASDAQ:SIBN) PT Lowered to $25.00 at Morgan Stanley

SI-BONE (NASDAQ:SIBN - Free Report) had its price objective cut by Morgan Stanley from $26.00 to $25.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on SIBN. Cantor Fitzgerald restated an overweight rating and issued a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler started coverage on SI-BONE in a research note on Thursday, March 28th. They issued an overweight rating and a $25.00 price target for the company. Truist Financial reaffirmed a buy rating and issued a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reissued a buy rating and issued a $27.00 target price on shares of SI-BONE in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE presently has an average rating of Buy and a consensus target price of $27.29.

SI-BONE Stock Performance

Shares of NASDAQ SIBN traded up $1.20 during trading hours on Tuesday, hitting $15.68. 595,426 shares of the stock were exchanged, compared to its average volume of 432,549. The firm has a market capitalization of $646.02 million, a P/E ratio of -13.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. SI-BONE has a one year low of $13.96 and a one year high of $29.51. The company's 50 day moving average is $15.87 and its 200 day moving average is $18.02.

SI-BONE (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The firm had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. On average, research analysts expect that SI-BONE will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mika Nishimura sold 2,500 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the transaction, the director now directly owns 19,350 shares of the company's stock, valued at $313,857. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the sale, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mika Nishimura sold 2,500 shares of the firm's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total value of $40,550.00. Following the completion of the sale, the director now directly owns 19,350 shares in the company, valued at approximately $313,857. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,905 shares of company stock worth $190,273. Corporate insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SIBN. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company's stock worth $158,000 after buying an additional 2,437 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of SI-BONE by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 678,360 shares of the company's stock worth $14,408,000 after buying an additional 17,449 shares during the period. Assenagon Asset Management S.A. increased its holdings in SI-BONE by 1.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 218,325 shares of the company's stock worth $4,637,000 after acquiring an additional 3,335 shares in the last quarter. Barclays PLC lifted its holdings in SI-BONE by 63.2% during the third quarter. Barclays PLC now owns 24,286 shares of the company's stock valued at $516,000 after purchasing an additional 9,402 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of SI-BONE by 35.7% in the third quarter. Impax Asset Management Group plc now owns 475,343 shares of the company's stock worth $10,096,000 after purchasing an additional 125,000 shares during the period. 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.