SI-BONE (NASDAQ:SIBN) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $19.00 target price on the stock.

Several other research analysts have also issued reports on the company. Truist Financial increased their target price on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley lowered their price objective on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.00.

SI-BONE Price Performance

SIBN stock opened at $12.56 on Wednesday. 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 has a 1 year low of $11.70 and a 1 year high of $21.70. The firm has a 50-day moving average of $13.72 and a 200 day moving average of $14.21. The company has a market cap of $526.77 million, a P/E ratio of -13.65 and a beta of 1.22.

Insiders Place Their Bets

In related news, insider Anthony J. Recupero sold 3,937 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the completion of the sale, the insider now owns 228,554 shares of the company’s stock, valued at $2,879,780.40. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the transaction, the chief executive officer now directly owns 482,875 shares in the company, valued at $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,093 shares of company stock valued at $299,558. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock worth $40,328,000 after buying an additional 43,670 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of SI-BONE by 79.8% during the first quarter. Bessemer Group Inc. now owns 37,859 shares of the company’s stock valued at $620,000 after purchasing an additional 16,800 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in SI-BONE by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock valued at $336,000 after purchasing an additional 1,372 shares during the period. Bellevue Group AG boosted its holdings in SI-BONE by 810.5% in the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock worth $18,661,000 after purchasing an additional 1,014,756 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in SI-BONE by 13.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,060,937 shares of the company’s stock worth $17,368,000 after purchasing an additional 128,702 shares during the period. Hedge funds and other institutional investors 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.