SI-BONE (NASDAQ:SIBN) Reaches New 1-Year High - Here's Why

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.35 and last traded at $18.85, with a volume of 110178 shares trading hands. The stock had previously closed at $18.49.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 price target on shares of SI-BONE in a research report on Tuesday, May 6th. Truist Financial lifted their target price on SI-BONE from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $24.00 target price on shares of SI-BONE in a report on Tuesday, May 6th.

SI-BONE Stock Performance

The stock has a market cap of $795.41 million, a P/E ratio of -20.29 and a beta of 0.82. The business has a 50 day moving average price of $14.67 and a 200 day moving average price of $14.93. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.09. The firm had revenue of $47.29 million during the quarter, compared to analyst estimates 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 expect that SI-BONE, Inc. will post -0.78 EPS for the current year.

Insider Activity

In other news, insider Anthony J. Recupero sold 3,311 shares of SI-BONE stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $14.15, for a total transaction of $46,850.65. Following the sale, the insider now owns 284,555 shares of the company's stock, valued at approximately $4,026,453.25. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Pisetsky sold 3,128 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total transaction of $44,229.92. Following the completion of the transaction, the senior vice president now owns 244,878 shares of the company's stock, valued at approximately $3,462,574.92. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,153 shares of company stock worth $935,040. Insiders own 4.00% of the company's stock.

Hedge Funds Weigh In On SI-BONE

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of SI-BONE by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 177,793 shares of the company's stock worth $2,486,000 after buying an additional 22,732 shares during the period. Rhumbline Advisers raised its holdings in SI-BONE by 3.0% during the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company's stock worth $808,000 after purchasing an additional 1,683 shares in the last quarter. MetLife Investment Management LLC raised its holdings in SI-BONE by 17.6% during the fourth quarter. MetLife Investment Management LLC now owns 27,421 shares of the company's stock worth $384,000 after purchasing an additional 4,104 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in SI-BONE during the fourth quarter worth about $155,000. Finally, VELA Investment Management LLC raised its holdings in SI-BONE by 23.8% during the fourth quarter. VELA Investment Management LLC now owns 122,671 shares of the company's stock worth $1,720,000 after purchasing an additional 23,592 shares in the last quarter. Institutional investors and hedge funds 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.