SI-BONE's (SIBN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SI-BONE (NASDAQ:SIBN - Free Report) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $27.00 price target on the stock.

Several other research firms have also issued reports on SIBN. Truist Financial restated a buy rating and issued a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Morgan Stanley lifted their price target on shares of SI-BONE from $25.00 to $26.00 and gave the stock an overweight rating in a research note on Tuesday, February 27th. Piper Sandler started coverage on shares of SI-BONE in a research note on Thursday, March 28th. They set an overweight rating and a $25.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $26.67.

SI-BONE Stock Up 1.8 %

NASDAQ:SIBN traded up $0.28 during trading hours on Wednesday, reaching $15.85. 484,848 shares of the company traded hands, compared to its average volume of 461,313. SI-BONE has a 1 year low of $14.88 and a 1 year high of $29.51. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21. The business's 50-day moving average price is $18.47 and its two-hundred day moving average price is $18.85. The stock has a market capitalization of $650.80 million, a P/E ratio of -13.79 and a beta of 1.20.

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

Insiders Place Their Bets

In related news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 255,760 shares of the company's stock, valued at $4,301,883.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Mika Nishimura sold 2,500 shares of SI-BONE 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 in the company, valued at $313,857. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anthony J. Recupero sold 3,330 shares of SI-BONE stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the transaction, the insider now owns 255,760 shares of the company's stock, valued at $4,301,883.20. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. increased its holdings in shares of SI-BONE by 5.4% in the fourth quarter. Brown Advisory Inc. now owns 4,207,703 shares of the company's stock valued at $88,320,000 after purchasing an additional 214,089 shares during the period. BlackRock Inc. increased its holdings in shares of SI-BONE by 10.6% in the second quarter. BlackRock Inc. now owns 3,041,535 shares of the company's stock valued at $82,061,000 after purchasing an additional 291,111 shares during the period. First Light Asset Management LLC increased its holdings in shares of SI-BONE by 0.9% in the fourth quarter. First Light Asset Management LLC now owns 2,547,392 shares of the company's stock valued at $53,470,000 after purchasing an additional 23,299 shares during the period. Vanguard Group Inc. increased its holdings in shares of SI-BONE by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 2,419,831 shares of the company's stock valued at $50,792,000 after purchasing an additional 111,315 shares during the period. Finally, Granahan Investment Management LLC grew its holdings in SI-BONE by 13.2% during the fourth quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company's stock worth $27,003,000 after acquiring an additional 150,217 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.