SI-BONE (NASDAQ:SIBN) Price Target Cut to $25.00 by Analysts at Morgan Stanley

SI-BONE (NASDAQ:SIBN) had its target price trimmed by Morgan Stanley from $26.00 to $25.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reissued a buy rating and set a $27.00 price target on shares of SI-BONE in a research report on Tuesday. Piper Sandler initiated coverage on SI-BONE in a report on Thursday, March 28th. They issued an overweight rating and a $25.00 target price for the company. Cantor Fitzgerald restated an overweight rating and issued a $25.00 price target on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Truist Financial reaffirmed a buy rating and set a $24.00 price objective (down from $26.00) on shares of SI-BONE in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $27.29.

SI-BONE Price Performance

Shares of SIBN stock opened at $15.68 on Tuesday. The business’s fifty day moving average is $15.83 and its 200 day moving average is $18.01. The company has a quick ratio of 8.15, a current ratio of 9.01 and a debt-to-equity ratio of 0.21. The stock has a market cap of $646.02 million, a price-to-earnings ratio of -13.75 and a beta of 1.24. SI-BONE has a twelve month low of $13.96 and a twelve month high of $29.51.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.02. SI-BONE had a negative net margin of 31.20% and a negative return on equity of 28.22%. The company had revenue of $38.86 million during the quarter, compared to analyst estimates of $38.60 million. Research analysts expect that SI-BONE will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the transaction, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other SI-BONE news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the sale, the chief financial officer now owns 205,516 shares in the company, valued at approximately $3,175,222.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mika Nishimura sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the transaction, the director now owns 19,350 shares of the company’s stock, valued at $313,857. The disclosure for this sale can be found here. Insiders sold a total of 11,905 shares of company stock valued at $190,273 in the last 90 days. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of hedge funds have recently made changes to their positions in the business. RiverPark Advisors LLC purchased a new position in SI-BONE in the 3rd quarter worth approximately $55,000. Amalgamated Bank boosted its position in shares of SI-BONE by 12.9% during the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after acquiring an additional 673 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in SI-BONE by 48.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after acquiring an additional 2,437 shares in the last quarter. Arizona State Retirement System increased its holdings in SI-BONE by 7.7% in the 4th quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock valued at $224,000 after acquiring an additional 762 shares during the last quarter. Finally, Semanteon Capital Management LP purchased a new stake in SI-BONE in the 4th quarter worth $251,000. Institutional investors own 98.11% of the company’s stock.

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.