SI-BONE (NASDAQ:SIBN) Reaches New 1-Year High Following Analyst Upgrade

SI-BONE, Inc. (NASDAQ:SIBN) shares hit a new 52-week high during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $20.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. SI-BONE traded as high as $19.35 and last traded at $17.90, with a volume of 381 shares traded. The stock had previously closed at $18.44.

Separately, Truist Financial increased their target price on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $24.50.

Insider Activity at SI-BONE

In related news, CFO Anshul Maheshwari sold 5,304 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at $2,633,427.29. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,670 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now directly owns 222,814 shares in the company, valued at approximately $3,097,114.60. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock valued at $130,356 over the last quarter. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its position in shares of SI-BONE by 14.7% during the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after acquiring an additional 358,821 shares during the last quarter. American Century Companies Inc. grew its position in SI-BONE by 11.0% during the 4th quarter. American Century Companies Inc. now owns 2,378,068 shares of the company’s stock worth $33,341,000 after purchasing an additional 236,167 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in SI-BONE by 21.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,953,806 shares of the company’s stock valued at $27,392,000 after purchasing an additional 350,970 shares during the period. Bellevue Group AG increased its stake in SI-BONE by 4.1% in the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after purchasing an additional 56,500 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its holdings in shares of SI-BONE by 5.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company’s stock valued at $19,432,000 after buying an additional 69,831 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The firm’s 50 day moving average price is $16.01 and its two-hundred day moving average price is $14.76. The firm has a market cap of $746.92 million, a price-to-earnings ratio of -19.36 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $48.87 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.

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.