SI-Bone (NASDAQ:SIBN) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of SI-Bone (NASDAQ:SIBN) from a sell rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “SI-BONE Inc. is a medical device company which developed the iFuse Implant System(R) for minimally invasive surgical treatment of the sacroiliac joint dysfunction. SI-BONE Inc. is based in Santa Clara, California. “

Separately, ValuEngine downgraded SI-Bone from a buy rating to a hold rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. SI-Bone presently has a consensus rating of Buy and a consensus price target of $24.75.

Shares of NASDAQ:SIBN traded up $0.08 during midday trading on Thursday, reaching $17.80. 1 shares of the company’s stock were exchanged, compared to its average volume of 163,270. The company has a current ratio of 13.06, a quick ratio of 12.70 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $429.86 million and a price-to-earnings ratio of -24.98. SI-Bone has a fifty-two week low of $14.08 and a fifty-two week high of $23.03.

SI-Bone (NASDAQ:SIBN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13). The company had revenue of $14.99 million during the quarter. As a group, equities research analysts predict that SI-Bone will post -1.45 earnings per share for the current fiscal year.

In other SI-Bone news, CFO Laura Francis sold 2,000 shares of SI-Bone stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.96, for a total value of $31,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Reiley sold 10,000 shares of SI-Bone stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $16.95, for a total value of $169,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,659 shares of company stock valued at $536,411.

Institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of SI-Bone during the fourth quarter worth about $48,000. Perceptive Advisors LLC acquired a new position in shares of SI-Bone during the fourth quarter worth about $307,000. Northern Trust Corp acquired a new position in shares of SI-Bone during the fourth quarter worth about $2,109,000. Orbimed Advisors LLC acquired a new position in shares of SI-Bone during the fourth quarter worth about $20,584,000. Finally, Federated Investors Inc. PA grew its position in shares of SI-Bone by 111.4% during the first quarter. Federated Investors Inc. PA now owns 370,000 shares of the company’s stock worth $6,971,000 after buying an additional 195,000 shares in the last quarter. 38.89% of the stock is owned by institutional investors and hedge funds.

SI-Bone Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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