SI-BONE (NASDAQ:SIBN) PT Lowered to $25.00 at Morgan Stanley

SI-BONE (NASDAQ:SIBN) had its price target dropped by equities research analysts at Morgan Stanley from $26.00 to $25.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 66.67% from the stock’s previous close.

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

SI-BONE Stock Performance

Shares of SIBN stock opened at $15.00 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 9.01 and a quick ratio of 8.15. SI-BONE has a 1 year low of $13.96 and a 1 year high of $29.51. The firm has a market capitalization of $618 million, a price-to-earnings ratio of -13.16 and a beta of 1.24. The business has a fifty day moving average of $15.78 and a 200 day moving average of $17.99.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.27) 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 analysts’ expectations 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, research analysts expect that SI-BONE will post -0.98 earnings per share for the current year.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the sale, the insider now owns 255,760 shares in the company, valued at approximately $4,301,883.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Anshul Maheshwari sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.45, for a total transaction of $37,466.25. Following the completion of the sale, the chief financial officer now directly owns 205,516 shares in the company, valued at $3,175,222.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,330 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $16.82, for a total value of $56,010.60. Following the completion of the transaction, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The disclosure for this sale can be found here. Insiders sold 11,905 shares of company stock worth $190,273 over the last three months. Insiders own 5.40% of the company’s stock.

Institutional Trading of SI-BONE

Hedge funds and other institutional investors have recently modified their holdings of the business. RiverPark Advisors LLC purchased a new position in SI-BONE during the 3rd quarter valued at about $55,000. Amalgamated Bank lifted its holdings in SI-BONE by 12.9% during the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after buying an additional 673 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SI-BONE by 48.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,435 shares of the company’s stock valued at $158,000 after buying an additional 2,437 shares during the period. Arizona State Retirement System lifted its position in SI-BONE by 7.7% in the fourth 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 acquired a new stake in shares of SI-BONE during the fourth quarter worth about $251,000. 98.11% of the stock is owned by institutional investors and hedge funds.

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.