Needham & Company LLC Reaffirms Buy Rating for SI-BONE (NASDAQ:SIBN)

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $19.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 20.48% from the company’s current price.

Separately, Truist Financial lifted their target price on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE presently has an average rating of “Buy” and a consensus target price of $23.00.

SI-BONE Trading Up 14.9 %

Shares of NASDAQ:SIBN traded up $2.05 during trading on Monday, reaching $15.77. The company’s stock had a trading volume of 130,873 shares, compared to its average volume of 256,693. The stock has a market capitalization of $661.36 million, a PE ratio of -17.14 and a beta of 1.16. SI-BONE has a 12 month low of $11.70 and a 12 month high of $21.64. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The firm’s 50 day simple moving average is $13.68 and its two-hundred day simple moving average is $14.21.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CEO Laura Francis sold 10,048 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.58, for a total value of $126,403.84. Following the transaction, the chief executive officer now owns 482,875 shares of the company’s stock, valued at $6,074,567.50. This represents a 2.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anshul Maheshwari sold 2,439 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.68, for a total transaction of $30,926.52. Following the sale, the chief financial officer now directly owns 194,623 shares of the company’s stock, valued at $2,467,819.64. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,348 shares of company stock worth $356,349 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently modified their holdings of SIBN. FMR LLC grew its holdings in SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after acquiring an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of SI-BONE during the second quarter valued at approximately $61,000. Arizona State Retirement System increased its holdings in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares during the period. Walleye Capital LLC bought a new position in SI-BONE in the third quarter worth approximately $144,000. Finally, Deerfield Management Company L.P. Series C purchased a new stake in SI-BONE during the second quarter worth $151,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

SI-BONE Company Profile

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.