Brokerages Set SI-BONE, Inc. (NASDAQ:SIBN) Target Price at $23.00

SI-BONE, Inc. (NASDAQ:SIBN) has been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Monday. Truist Financial raised their price objective 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.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,937 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 228,554 shares in the company, valued at approximately $2,879,780.40. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laura Francis sold 10,048 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total transaction of $126,403.84. Following the transaction, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at $6,074,567.50. The trade was 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 27,348 shares of company stock valued at $356,349. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in 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 buying an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of SI-BONE during the 2nd quarter worth $61,000. Arizona State Retirement System grew its holdings in shares of SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after acquiring an additional 903 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of SI-BONE in the 3rd quarter worth $144,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of SI-BONE during the second quarter worth $151,000. Institutional investors own 98.11% of the company’s stock.

SI-BONE Price Performance

Shares of SIBN stock opened at $15.70 on Friday. The firm has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $14.24. The company has a market capitalization of $658.43 million, a PE ratio of -17.07 and a beta of 1.16. SI-BONE has a twelve month low of $11.70 and a twelve month high of $21.64. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22.

About SI-BONE

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.