Needham & Company LLC Raises SI-BONE (NASDAQ:SIBN) Price Target to $24.00

SI-BONE (NASDAQ:SIBN) had its price objective raised by investment analysts at Needham & Company LLC from $20.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 37.38% from the company’s current price.

Separately, Truist Financial boosted their target price on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $23.83.

SI-BONE Price Performance

SIBN opened at $17.47 on Tuesday. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $20.60. The firm has a 50-day moving average of $15.73 and a 200 day moving average of $14.69. The company has a debt-to-equity ratio of 0.22, a quick ratio of 7.22 and a current ratio of 8.25. The firm has a market cap of $732.66 million, a P/E ratio of -18.99 and a beta of 1.17.

SI-BONE (NASDAQ:SIBN) last released its earnings results on Monday, February 24th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. On average, research analysts expect that SI-BONE will post -0.78 EPS for the current year.

Insider Activity

In other SI-BONE news, insider Anthony J. Recupero sold 3,670 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the transaction, the insider now owns 222,814 shares of the company’s stock, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares in the company, valued at $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,311 shares of company stock worth $130,356 over the last ninety days. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SI-BONE

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of SI-BONE by 103.6% in the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after acquiring an additional 1,198 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in SI-BONE during the 4th quarter valued at about $40,000. Mainstream Capital Management LLC bought a new position in SI-BONE during the 4th quarter valued at approximately $53,000. R Squared Ltd purchased a new stake in SI-BONE in the 4th quarter worth approximately $73,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SI-BONE in the 4th quarter worth approximately $97,000. Institutional investors own 98.11% of the company’s stock.

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.