Vanguard Group Inc. Acquires 155,121 Shares of SI-BONE, Inc. (NASDAQ:SIBN)

Vanguard Group Inc. lifted its stake in shares of SI-BONE, Inc. (NASDAQ:SIBN - Free Report) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,308,516 shares of the company's stock after acquiring an additional 155,121 shares during the period. Vanguard Group Inc. owned 5.70% of SI-BONE worth $49,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. grew its position in SI-BONE by 20.5% in the 3rd quarter. Federated Hermes Inc. now owns 325,721 shares of the company's stock valued at $6,918,000 after acquiring an additional 55,515 shares in the last quarter. Swiss National Bank increased its position in shares of SI-BONE by 1.1% during the third quarter. Swiss National Bank now owns 76,600 shares of the company's stock worth $1,627,000 after purchasing an additional 800 shares in the last quarter. Bullseye Asset Management LLC acquired a new stake in shares of SI-BONE during the third quarter worth about $680,000. New York State Common Retirement Fund increased its position in shares of SI-BONE by 17.7% during the third quarter. New York State Common Retirement Fund now owns 376,943 shares of the company's stock worth $8,006,000 after purchasing an additional 56,630 shares in the last quarter. Finally, Barclays PLC increased its position in SI-BONE by 63.2% in the 3rd quarter. Barclays PLC now owns 24,286 shares of the company's stock valued at $516,000 after acquiring an additional 9,402 shares during the period. Hedge funds and other institutional investors own 98.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SIBN. Truist Financial restated a "buy" rating and issued a $24.00 price target (down previously from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price objective on shares of SI-BONE in a research report on Tuesday, February 27th. Piper Sandler assumed coverage on SI-BONE in a report on Thursday, March 28th. They issued an "overweight" rating and a $25.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $27.00 price target on shares of SI-BONE in a report on Wednesday, April 3rd. Finally, Morgan Stanley upped their price objective on SI-BONE from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE has a consensus rating of "Buy" and an average price target of $26.67.

SI-BONE Stock Up 6.7 %

NASDAQ:SIBN traded up $1.02 during mid-day trading on Tuesday, reaching $16.34. The stock had a trading volume of 378,463 shares, compared to its average volume of 451,336. The company has a market capitalization of $670.92 million, a price-to-earnings ratio of -14.33 and a beta of 1.20. SI-BONE, Inc. has a 1-year low of $14.88 and a 1-year high of $29.51. The stock's 50 day simple moving average is $18.04 and its two-hundred day simple moving average is $18.63. 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 (NASDAQ:SIBN - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.02. SI-BONE had a negative return on equity of 28.22% and a negative net margin of 31.20%. The business had revenue of $38.86 million during the quarter, compared to the consensus estimate of $38.60 million. Equities analysts anticipate that SI-BONE, Inc. will post -0.98 EPS for the current year.

Insiders Place Their Bets

In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the transaction, the chief financial officer now owns 205,516 shares of the company's stock, valued at $3,175,222.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Anthony J. Recupero sold 3,307 shares of SI-BONE stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.50, for a total transaction of $51,258.50. Following the sale, the insider now owns 252,453 shares of the company's stock, valued at $3,913,021.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total value of $37,466.25. Following the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at approximately $3,175,222.20. The disclosure for this sale can be found here. Insiders have sold 11,562 shares of company stock valued at $185,285 over the last quarter. Insiders own 5.40% 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.