SI-BONE (NASDAQ:SIBN) PT Raised to $43.00 at Truist


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SI-BONE (NASDAQ:SIBN) had its price target raised by investment analysts at Truist from $35.00 to $43.00 in a research report issued on Tuesday, The Fly reports. Truist’s price target would suggest a potential upside of 28.13% from the company’s previous close.

A number of other equities analysts have also commented on the company. Canaccord Genuity raised their price objective on SI-BONE from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. JMP Securities raised their price objective on SI-BONE from $27.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, January 8th. Needham & Company LLC raised their price objective on SI-BONE from $34.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley raised their price objective on SI-BONE from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Zacks Investment Research downgraded SI-BONE from a “hold” rating to a “sell” rating in a report on Friday, March 12th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.71.

Shares of NASDAQ SIBN traded down $2.40 during trading hours on Tuesday, reaching $33.56. 11,818 shares of the stock were exchanged, compared to its average volume of 287,842. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -21.00 and a beta of 1.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 12.22 and a current ratio of 12.65. SI-BONE has a 52 week low of $14.37 and a 52 week high of $36.78. The stock’s fifty day simple moving average is $33.10 and its 200 day simple moving average is $28.78.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Sunday, May 2nd. The company reported ($0.37) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.03. SI-BONE had a negative return on equity of 45.03% and a negative net margin of 61.67%. Research analysts predict that SI-BONE will post -1.53 EPS for the current fiscal year.

In other news, Director John Gordon Freund sold 666,200 shares of the business’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $30.39, for a total value of $20,245,818.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey W. Dunn sold 40,000 shares of the business’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $28.65, for a total value of $1,146,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,067,472 shares of company stock worth $32,658,438 over the last ninety days. Company insiders own 15.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of SIBN. Avidity Partners Management LP bought a new stake in SI-BONE in the 4th quarter valued at about $19,133,000. Lord Abbett & CO. LLC increased its position in SI-BONE by 237.1% in the 4th quarter. Lord Abbett & CO. LLC now owns 558,548 shares of the company’s stock valued at $16,701,000 after buying an additional 392,852 shares in the last quarter. Royce & Associates LP increased its position in SI-BONE by 109.9% in the 4th quarter. Royce & Associates LP now owns 691,700 shares of the company’s stock valued at $20,682,000 after buying an additional 362,100 shares in the last quarter. BlackRock Inc. increased its holdings in SI-BONE by 13.3% during the 4th quarter. BlackRock Inc. now owns 2,242,079 shares of the company’s stock worth $67,039,000 after purchasing an additional 263,523 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in SI-BONE by 55.3% during the 4th quarter. Federated Hermes Inc. now owns 654,848 shares of the company’s stock worth $19,580,000 after purchasing an additional 233,111 shares in the last quarter. 65.26% of the stock is owned by institutional investors and hedge funds.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, develops implantable devices used in the surgical treatment of the sacropelvic anatomy in the United States and Internationally. The company offers iFuse, a minimally invasive surgical implant system, which is intended to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain.

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Analyst Recommendations for SI-BONE (NASDAQ:SIBN)

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