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


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SI-BONE (NASDAQ:SIBN) had its target price increased by equities researchers at Truist Securities from $35.00 to $43.00 in a research note issued on Tuesday, Stock Target Advisor reports. Truist Securities’ price target would suggest a potential upside of 30.18% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Canaccord Genuity upped their target price on SI-BONE from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist increased their price objective on shares of SI-BONE from $35.00 to $43.00 in a report on Tuesday. Needham & Company LLC boosted their target price on shares of SI-BONE from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday. JMP Securities upped their price target on shares of SI-BONE from $27.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, January 8th. Finally, Morgan Stanley lifted their price objective on SI-BONE from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.63.

SIBN traded down $2.93 on Tuesday, reaching $33.03. The stock had a trading volume of 22,412 shares, compared to its average volume of 287,842. The business’s 50-day moving average price is $33.10 and its two-hundred day moving average price is $28.78. The company has a market cap of $1.08 billion, a P/E ratio of -20.62 and a beta of 1.41. SI-BONE has a 12-month low of $14.37 and a 12-month high of $36.78. The company has a current ratio of 12.65, a quick ratio of 12.22 and a debt-to-equity ratio of 0.39.

SI-BONE (NASDAQ:SIBN) last announced its quarterly earnings results on Sunday, May 2nd. The company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ 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%. As a group, analysts predict that SI-BONE will post -1.53 earnings per share for the current year.

In other SI-BONE news, CFO Laura Francis sold 18,358 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $33.34, for a total value of $612,055.72. Following the transaction, the chief financial officer now directly owns 197,471 shares of the company’s stock, valued at approximately $6,583,683.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Dunn sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The stock was 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 sold 1,067,472 shares of company stock valued at $32,658,438 over the last quarter. Company insiders own 15.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in SI-BONE by 13.3% during the fourth quarter. BlackRock Inc. now owns 2,242,079 shares of the company’s stock worth $67,039,000 after buying an additional 263,523 shares during the last quarter. Orbimed Advisors LLC acquired a new position in shares of SI-BONE during the 1st quarter valued at about $16,507,000. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of SI-BONE by 2.9% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,345,207 shares of the company’s stock valued at $21,443,000 after purchasing an additional 37,877 shares during the period. Vanguard Group Inc. increased its position in SI-BONE by 22.3% during the second quarter. Vanguard Group Inc. now owns 1,241,255 shares of the company’s stock worth $19,786,000 after purchasing an additional 226,176 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in SI-BONE by 1.4% during the second quarter. Driehaus Capital Management LLC now owns 1,123,448 shares of the company’s stock worth $17,908,000 after purchasing an additional 15,450 shares during the period. Hedge funds and other institutional investors own 65.26% of the company’s stock.

About SI-BONE

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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