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

Raymond James Financial Inc. purchased a new position in SI-BONE, Inc. (NASDAQ:SIBN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 87,920 shares of the company’s stock, valued at approximately $1,233,000. Raymond James Financial Inc. owned about 0.21% of SI-BONE as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SIBN. FMR LLC grew its stake in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares in the last quarter. Rhumbline Advisers grew its position in SI-BONE by 3.0% during the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after purchasing an additional 1,683 shares in the last quarter. Franklin Resources Inc. increased its stake in SI-BONE by 9.4% in the 3rd quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after buying an additional 1,745 shares during the period. Mainstream Capital Management LLC purchased a new stake in SI-BONE in the 4th quarter worth approximately $53,000. Finally, R Squared Ltd acquired a new stake in shares of SI-BONE during the 4th quarter valued at $73,000. Institutional investors own 98.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

SI-BONE Stock Up 2.3 %

Shares of SIBN opened at $14.36 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The company has a 50-day simple moving average of $16.25 and a 200-day simple moving average of $14.74. SI-BONE, Inc. has a 52 week low of $11.70 and a 52 week high of $19.16. The firm has a market capitalization of $609.63 million, a P/E ratio of -15.61 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. The firm had revenue of $49.00 million for the quarter, compared to analyst estimates 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 expect that SI-BONE, Inc. will post -0.78 earnings per share for the current year.

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.