Raymond James Financial Inc. Invests $1.23 Million in SI-BONE, Inc. (NASDAQ:SIBN)

Raymond James Financial Inc. bought a new stake in SI-BONE, Inc. (NASDAQ:SIBN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 87,920 shares of the company’s stock, valued at approximately $1,233,000. Raymond James Financial Inc. owned about 0.21% of SI-BONE as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SIBN. Mainstream Capital Management LLC purchased a new stake in shares of SI-BONE during the fourth quarter worth about $53,000. R Squared Ltd acquired a new position in shares of SI-BONE in the 4th quarter valued at $73,000. KLP Kapitalforvaltning AS acquired a new position in shares of SI-BONE in the 4th quarter valued at about $97,000. Proficio Capital Partners LLC acquired a new stake in shares of SI-BONE in the fourth quarter worth $155,000. Finally, AlphaQuest LLC lifted its holdings in shares of SI-BONE by 13,950.6% during the 4th quarter. AlphaQuest LLC now owns 11,662 shares of the company’s stock valued at $164,000 after acquiring an additional 11,579 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SIBN shares. Needham & Company LLC lifted their price objective on shares of SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and set a $25.00 price objective on shares of SI-BONE in a research note on Tuesday, February 25th. Finally, Truist Financial reissued a “buy” rating and set a $22.00 target price (up from $18.00) on shares of SI-BONE in a report on Tuesday, February 25th. Five 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 target price of $24.40.

SI-BONE Trading Up 2.3 %

SI-BONE stock opened at $13.99 on Friday. The firm has a 50-day moving average price of $14.61 and a two-hundred day moving average price of $14.67. The firm has a market capitalization of $594.98 million, a price-to-earnings ratio of -15.21 and a beta of 0.82. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. SI-BONE, Inc. has a 52-week low of $11.70 and a 52-week high of $19.16.

SI-BONE (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The company had revenue of $49.00 million during the quarter, compared to analyst estimates of $48.87 million. Sell-side analysts expect that SI-BONE, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Michael A. Pisetsky sold 3,128 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.14, for a total value of $44,229.92. Following the completion of the transaction, the senior vice president now owns 244,878 shares in the company, valued at $3,462,574.92. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anthony J. Recupero sold 3,311 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the sale, the insider now owns 284,555 shares in the company, valued at approximately $4,026,453.25. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,112 shares of company stock worth $101,275. Corporate insiders own 3.90% of the company’s stock.

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.