Brokerages Set SI-BONE, Inc. (NASDAQ:SIBN) Target Price at $27.29

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have earned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $27.29.

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of SI-BONE in a research note on Tuesday. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of SI-BONE in a research report on Tuesday. Piper Sandler initiated coverage on shares of SI-BONE in a research note on Thursday, March 28th. They set an “overweight” rating and a $25.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $24.00 target price (down from $26.00) on shares of SI-BONE in a report on Tuesday, February 27th. Finally, Morgan Stanley lowered their price target on shares of SI-BONE from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday.

Insider Transactions at SI-BONE

In related news, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE 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 transaction, the chief financial officer now directly owns 205,516 shares of the company’s stock, valued at approximately $3,175,222.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,330 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $16.82, for a total value of $56,010.60. Following the sale, the insider now owns 255,760 shares in the company, valued at $4,301,883.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anshul Maheshwari sold 2,425 shares of SI-BONE 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 sale, the chief financial officer now owns 205,516 shares of the company’s stock, valued at $3,175,222.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,905 shares of company stock worth $190,273. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in SI-BONE by 20.5% in the 3rd quarter. Federated Hermes Inc. now owns 325,721 shares of the company’s stock valued at $6,918,000 after buying an additional 55,515 shares during the period. Mach 1 Financial Group LLC purchased a new stake in shares of SI-BONE in the fourth quarter valued at approximately $493,000. Kent Lake Capital LLC grew its stake in SI-BONE by 33.3% in the fourth quarter. Kent Lake Capital LLC now owns 400,000 shares of the company’s stock worth $8,396,000 after purchasing an additional 100,000 shares in the last quarter. Swiss National Bank increased its holdings in SI-BONE by 1.1% during the 3rd quarter. Swiss National Bank now owns 76,600 shares of the company’s stock worth $1,627,000 after purchasing an additional 800 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in SI-BONE during the 4th quarter valued at $251,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Performance

SIBN opened at $15.54 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 8.15 and a current ratio of 9.01. The stock has a market capitalization of $640.31 million, a price-to-earnings ratio of -14.26 and a beta of 1.24. The company has a fifty day moving average of $15.74 and a 200 day moving average of $17.97. SI-BONE has a fifty-two week low of $13.96 and a fifty-two week high of $29.51.

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

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.