SI-BONE (NASDAQ:SIBN) Shares Gap Down to $24.29

SI-BONE, Inc. (NASDAQ:SIBN) gapped down prior to trading on Friday . The stock had previously closed at $24.29, but opened at $23.33. SI-BONE shares last traded at $23.59, with a volume of 1,868 shares changing hands.

A number of equities research analysts have recently commented on SIBN shares. Morgan Stanley reduced their target price on shares of SI-BONE from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 3rd. Citigroup started coverage on shares of SI-BONE in a research report on Tuesday, June 8th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $37.00 target price (down from $42.00) on shares of SI-BONE in a research report on Tuesday, August 3rd. Finally, started coverage on shares of SI-BONE in a research report on Tuesday, June 8th. They issued a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $39.71.

The stock has a market capitalization of $779.21 million, a price-to-earnings ratio of -16.73 and a beta of 1.40. The company’s 50-day moving average is $24.61 and its 200-day moving average is $29.31. The company has a quick ratio of 15.13, a current ratio of 15.77 and a debt-to-equity ratio of 0.26.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Sunday, August 1st. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.03). SI-BONE had a negative return on equity of 30.43% and a negative net margin of 52.47%. The firm had revenue of $22.19 million for the quarter, compared to analyst estimates of $22.02 million. Sell-side analysts anticipate that SI-BONE, Inc. will post -1.61 EPS for the current year.

In other SI-BONE news, CEO Laura Francis sold 4,849 shares of the stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $20.46, for a total transaction of $99,210.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Dunn sold 6,884 shares of the stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $20.46, for a total transaction of $140,846.64. Following the transaction, the director now directly owns 171,457 shares of the company’s stock, valued at approximately $3,508,010.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,299 shares of company stock valued at $400,784. 7.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Waddell & Reed Financial Inc. boosted its stake in shares of SI-BONE by 8.7% in the first quarter. Waddell & Reed Financial Inc. now owns 396,185 shares of the company’s stock valued at $12,603,000 after purchasing an additional 31,632 shares during the period. AGF Investments Inc. boosted its stake in shares of SI-BONE by 20.0% in the second quarter. AGF Investments Inc. now owns 150,315 shares of the company’s stock valued at $4,730,000 after purchasing an additional 25,103 shares during the period. Amundi Asset Management US Inc. purchased a new position in shares of SI-BONE in the first quarter valued at approximately $6,252,000. Point72 Hong Kong Ltd boosted its stake in shares of SI-BONE by 21.8% in the first quarter. Point72 Hong Kong Ltd now owns 2,154 shares of the company’s stock valued at $69,000 after purchasing an additional 385 shares during the period. Finally, HighTower Advisors LLC purchased a new position in shares of SI-BONE in the first quarter valued at approximately $570,000. 92.97% of the stock is owned by institutional investors and hedge funds.

SI-BONE Company Profile (NASDAQ:SIBN)

SI-BONE, Inc engages in the provision of implantable devices used in the surgical treatment of the sacropelvic anatomy. It offers a proprietary minimally invasive surgical implant system, called iFuse, used to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that often causes severe lower back pain.

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