SI-BONE (NASDAQ:SIBN) Receives “Market Outperform” Rating from JMP Securities

SI-BONE (NASDAQ:SIBN)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $32.00 price objective on the stock. JMP Securities’ target price would suggest a potential upside of 113.33% from the company’s previous close.

Several other equities analysts have also commented on the company. Needham & Company LLC restated a “buy” rating and set a $27.00 price target on shares of SI-BONE in a research note on Tuesday. Morgan Stanley cut their target price on SI-BONE from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday. Piper Sandler assumed coverage on SI-BONE in a research note on Thursday, March 28th. They issued an “overweight” rating and a $25.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $24.00 target price (down previously from $26.00) on shares of SI-BONE in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 target price on shares of SI-BONE in a research note on Tuesday, February 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $27.29.

SI-BONE Stock Down 4.3 %

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 market cap of $618 million, a price-to-earnings ratio of -13.16 and a beta of 1.24. The stock has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $17.99. The company has a current ratio of 9.01, a quick ratio of 8.15 and a debt-to-equity ratio of 0.21.

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

Insider Transactions at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 $3,175,222.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Anthony J. Recupero sold 3,330 shares of SI-BONE stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total transaction of $56,010.60. Following the completion of the sale, the insider now owns 255,760 shares of the company’s stock, valued at $4,301,883.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.45, for a total value of $37,466.25. Following the sale, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,905 shares of company stock worth $190,273. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its holdings in SI-BONE by 20.5% in the third quarter. Federated Hermes Inc. now owns 325,721 shares of the company’s stock valued at $6,918,000 after acquiring an additional 55,515 shares during the period. Mach 1 Financial Group LLC acquired a new position in SI-BONE in the fourth quarter valued at approximately $493,000. Kent Lake Capital LLC lifted its holdings in SI-BONE by 33.3% in the fourth quarter. Kent Lake Capital LLC now owns 400,000 shares of the company’s stock valued at $8,396,000 after acquiring an additional 100,000 shares during the period. Swiss National Bank lifted its holdings in SI-BONE by 1.1% in the third quarter. Swiss National Bank now owns 76,600 shares of the company’s stock valued at $1,627,000 after acquiring an additional 800 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in SI-BONE in the fourth quarter valued at approximately $251,000. Institutional investors and hedge funds 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.