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

Raymond James Financial Inc. bought a new stake in SI-BONE, Inc. (NASDAQ:SIBN) during the fourth quarter, HoldingsChannel.com reports. The fund bought 87,920 shares of the company’s stock, valued at approximately $1,233,000.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC increased its position in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after buying an additional 1,198 shares during the period. Mainstream Capital Management LLC acquired a new stake in SI-BONE during the fourth quarter worth about $53,000. R Squared Ltd acquired a new position in shares of SI-BONE in the 4th quarter valued at approximately $73,000. Walleye Capital LLC bought a new stake in shares of SI-BONE during the 3rd quarter worth approximately $144,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of SI-BONE during the 4th quarter worth approximately $155,000. 98.11% of the stock is owned by institutional investors and hedge funds.

SI-BONE Stock Up 2.3 %

Shares of NASDAQ SIBN opened at $14.36 on Thursday. 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 company has a 50-day moving average price of $16.25 and a 200-day moving average price of $14.74. The stock has a market capitalization of $609.63 million, a P/E ratio of -15.61 and a beta of 1.17. SI-BONE, Inc. has a 1 year low of $11.70 and a 1 year high of $19.16.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. On average, equities research analysts forecast that SI-BONE, Inc. will post -0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 price target on shares of SI-BONE in a report on Tuesday, February 25th. Truist Financial reissued a “buy” rating and set a $22.00 price target (up from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Needham & Company LLC upped their price objective on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.40.

SI-BONE 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.