SI-BONE, Inc. (NASDAQ:SIBN) Receives $23.00 Average PT from Brokerages

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have been given a consensus recommendation of “Buy” by the six analysts that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.00.

Several brokerages recently issued reports on SIBN. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of SI-BONE in a report on Wednesday, November 20th. Truist Financial boosted their target price on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley reduced their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the transaction, the insider now owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.68, for a total value of $30,926.52. Following the sale, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,093 shares of company stock valued at $299,558. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of SI-BONE by 103.6% during the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of SI-BONE during the second quarter valued at approximately $61,000. Walleye Capital LLC purchased a new stake in shares of SI-BONE in the 3rd quarter worth about $144,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after purchasing an additional 2,108 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after purchasing an additional 903 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

SI-BONE Trading Up 0.7 %

Shares of NASDAQ:SIBN opened at $12.65 on Friday. The firm has a market cap of $530.54 million, a price-to-earnings ratio of -13.75 and a beta of 1.22. The company’s fifty day simple moving average is $13.67 and its 200 day simple moving average is $14.18. 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 has a 12 month low of $11.70 and a 12 month high of $21.70.

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.