Raymond James Financial Inc. Acquires New Shares in SI-BONE, Inc. (NASDAQ:SIBN)

Raymond James Financial Inc. purchased a new position in shares of SI-BONE, Inc. (NASDAQ:SIBN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 87,920 shares of the company's stock, valued at approximately $1,233,000. Raymond James Financial Inc. owned about 0.21% of SI-BONE as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SIBN. Mainstream Capital Management LLC purchased a new stake in SI-BONE in the fourth quarter worth approximately $53,000. R Squared Ltd bought a new position in shares of SI-BONE during the 4th quarter valued at $73,000. KLP Kapitalforvaltning AS purchased a new position in SI-BONE in the 4th quarter worth $97,000. Proficio Capital Partners LLC purchased a new stake in SI-BONE during the fourth quarter valued at about $155,000. Finally, AlphaQuest LLC increased its holdings in shares of SI-BONE by 13,950.6% in the fourth quarter. AlphaQuest LLC now owns 11,662 shares of the company's stock worth $164,000 after buying an additional 11,579 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SIBN. Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of SI-BONE in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and set a $25.00 price target on shares of SI-BONE in a research report on Tuesday. Finally, Truist Financial boosted their price objective on shares of SI-BONE from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE currently has a consensus rating of "Buy" and an average target price of $24.40.

SI-BONE Trading Up 6.2 %

SIBN stock traded up $1.02 during trading on Wednesday, reaching $17.47. The company had a trading volume of 1,348,246 shares, compared to its average volume of 367,739. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. SI-BONE, Inc. has a 52 week low of $11.70 and a 52 week high of $19.16. The business has a 50 day moving average of $14.50 and a 200 day moving average of $14.71. The company has a market cap of $742.98 million, a P/E ratio of -18.99 and a beta of 0.82.

SI-BONE (NASDAQ:SIBN - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.09. The company had revenue of $47.29 million during the quarter, compared to analysts' expectations of $45.13 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. As a group, sell-side analysts forecast that SI-BONE, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Michael A. Pisetsky sold 3,128 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total value of $44,229.92. Following the sale, the senior vice president now directly owns 244,878 shares of the company's stock, valued at approximately $3,462,574.92. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony J. Recupero sold 3,311 shares of SI-BONE stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the completion of the transaction, the insider now directly owns 284,555 shares of the company's stock, valued at approximately $4,026,453.25. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,775 shares of company stock worth $95,711 in the last three months. 3.90% of the stock is owned by corporate insiders.

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.