Needham & Company LLC Reiterates Buy Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating restated by Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They currently have a $27.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 80.00% from the company’s current price.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 27th. Truist Financial reissued a “buy” rating and set a $24.00 price objective (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Piper Sandler began coverage on SI-BONE in a research report on Thursday, March 28th. They issued an “overweight” rating and a $25.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of SI-BONE from $25.00 to $26.00 and gave the company an “overweight” rating 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, SI-BONE has a consensus rating of “Buy” and a consensus target price of $27.29.

SI-BONE Stock Performance

NASDAQ:SIBN opened at $15.00 on Tuesday. SI-BONE has a twelve month low of $13.96 and a twelve month high of $29.51. 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 $618 million, a P/E ratio of -13.16 and a beta of 1.24. The business’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $17.99.

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

Insider Buying and Selling

In other SI-BONE news, insider Anthony J. Recupero sold 3,307 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $15.50, for a total value of $51,258.50. Following the completion of the sale, the insider now owns 252,453 shares in the company, valued at $3,913,021.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mika Nishimura sold 2,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.22, for a total transaction of $40,550.00. Following the completion of the sale, the director now directly owns 19,350 shares in the company, valued at $313,857. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony J. Recupero sold 3,307 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.50, for a total value of $51,258.50. Following the transaction, the insider now owns 252,453 shares in the company, valued at approximately $3,913,021.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,905 shares of company stock worth $190,273 in the last ninety days. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On SI-BONE

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