Morgan Stanley Trims SI-BONE (NASDAQ:SIBN) Target Price to $21.00

SI-BONE (NASDAQ:SIBN) had its price target reduced by Morgan Stanley from $25.00 to $21.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the stock. JMP Securities reiterated a market outperform rating and issued a $32.00 price objective on shares of SI-BONE in a research report on Tuesday, May 7th. Piper Sandler assumed coverage on shares of SI-BONE in a report on Thursday, March 28th. They issued an overweight rating and a $25.00 target price on the stock. Finally, Needham & Company LLC reissued a buy rating and set a $27.00 price target on shares of SI-BONE in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $25.67.

SI-BONE Stock Performance

NASDAQ SIBN opened at $17.11 on Monday. The firm has a market cap of $705.10 million, a P/E ratio of -15.70 and a beta of 1.20. SI-BONE has a 52-week low of $11.76 and a 52-week high of $26.48. The business’s 50-day moving average price is $13.72 and its 200 day moving average price is $16.34. The company has a quick ratio of 8.75, a current ratio of 9.76 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last announced its earnings results on Monday, May 6th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.02. The company had revenue of $37.87 million for the quarter, compared to the consensus estimate of $36.45 million. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. On average, equities research analysts expect that SI-BONE will post -0.95 earnings per share for the current year.

Insider Buying and Selling at SI-BONE

In other news, CFO Anshul Maheshwari sold 2,441 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the sale, the chief financial officer now directly owns 204,241 shares in the company, valued at $3,092,208.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the sale, the insider now owns 243,629 shares in the company, valued at approximately $3,147,686.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 2,441 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total transaction of $36,956.74. Following the sale, the chief financial officer now owns 204,241 shares of the company’s stock, valued at $3,092,208.74. The disclosure for this sale can be found here. In the last three months, insiders sold 11,956 shares of company stock worth $172,555. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIBN. Granahan Investment Management LLC boosted its stake in SI-BONE by 13.2% during the 4th quarter. Granahan Investment Management LLC now owns 1,286,450 shares of the company’s stock valued at $27,003,000 after acquiring an additional 150,217 shares during the last quarter. Bullseye Asset Management LLC increased its holdings in shares of SI-BONE by 218.6% in the 4th quarter. Bullseye Asset Management LLC now owns 102,024 shares of the company’s stock valued at $2,141,000 after acquiring an additional 70,000 shares during the last quarter. Wellington Management Group LLP raised its position in shares of SI-BONE by 34.9% during the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock valued at $17,150,000 after acquiring an additional 211,209 shares in the last quarter. Bellevue Group AG bought a new position in SI-BONE during the fourth quarter worth $2,628,000. Finally, Russell Investments Group Ltd. boosted its holdings in SI-BONE by 421.8% in the fourth quarter. Russell Investments Group Ltd. now owns 112,441 shares of the company’s stock worth $2,360,000 after purchasing an additional 90,892 shares during the period. Institutional investors and hedge funds own 98.11% 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.