SI-BONE (NASDAQ:SIBN) Upgraded by Zacks Investment Research to “Hold”

SI-BONE (NASDAQ:SIBNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “SI-BONE Inc. is a medical device company which developed the iFuse Implant System(R) for minimally invasive surgical treatment of the sacroiliac joint dysfunction. SI-BONE Inc. is based in Santa Clara, California. “

A number of other equities analysts have also commented on SIBN. Morgan Stanley dropped their price target on SI-BONE from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, March 1st. Cantor Fitzgerald started coverage on SI-BONE in a research note on Thursday, April 7th. They set an “overweight” rating and a $34.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of SI-BONE in a research note on Monday, January 10th. Finally, Bank of America dropped their price target on SI-BONE from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, January 18th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.44.

SI-BONE stock opened at $20.54 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 9.73 and a current ratio of 10.41. The firm’s fifty day moving average price is $20.93. The stock has a market capitalization of $687.88 million, a PE ratio of -12.08 and a beta of 1.41. SI-BONE has a one year low of $17.96 and a one year high of $37.21.

SI-BONE (NASDAQ:SIBNGet Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The company had revenue of $25.23 million during the quarter. SI-BONE had a negative return on equity of 38.10% and a negative net margin of 62.75%. During the same period last year, the firm posted ($0.28) EPS. Equities research analysts anticipate that SI-BONE will post -1.77 EPS for the current fiscal year.

In other news, SVP Michael A. Pisetsky sold 1,994 shares of SI-BONE stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $20.38, for a total value of $40,637.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laura Francis sold 4,777 shares of the firm’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $20.38, for a total value of $97,355.26. The disclosure for this sale can be found here. Insiders sold a total of 16,946 shares of company stock worth $344,255 over the last quarter. Company insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. M&G Investment Management Ltd. lifted its position in SI-BONE by 8.0% during the 3rd quarter. M&G Investment Management Ltd. now owns 122,502 shares of the company’s stock worth $2,573,000 after acquiring an additional 9,065 shares during the period. Roubaix Capital LLC acquired a new position in shares of SI-BONE in the 4th quarter valued at about $3,019,000. Deutsche Bank AG lifted its holdings in shares of SI-BONE by 22.2% in the 3rd quarter. Deutsche Bank AG now owns 25,297 shares of the company’s stock valued at $542,000 after buying an additional 4,604 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SI-BONE in the 4th quarter valued at about $16,445,000. Finally, Trexquant Investment LP increased its stake in shares of SI-BONE by 35.6% in the 3rd quarter. Trexquant Investment LP now owns 12,607 shares of the company’s stock valued at $270,000 after purchasing an additional 3,309 shares in the last quarter.

SI-BONE Company Profile (Get Rating)

SI-BONE, Inc, a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures.

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