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

SI-BONE (NASDAQ:SIBN)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 68.42% from the stock’s previous close.

Several other research firms have also recently weighed in on SIBN. Truist Financial restated a “buy” rating and set a $22.00 target price (up from $18.00) on shares of SI-BONE in a research note on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price objective on shares of SI-BONE in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $24.40.

SI-BONE Trading Up 1.9 %

Shares of SI-BONE stock opened at $14.25 on Tuesday. The company has a market capitalization of $606.04 million, a price-to-earnings ratio of -15.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. SI-BONE has a 1 year low of $11.70 and a 1 year high of $19.16. The business has a fifty day simple moving average of $14.53 and a two-hundred day simple moving average of $14.69.

SI-BONE (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.09. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%. The firm had revenue of $47.29 million during the quarter, compared to the consensus estimate of $45.13 million. Research analysts forecast that SI-BONE will post -0.78 EPS for the current year.

Insider Transactions at SI-BONE

In other SI-BONE news, SVP Michael A. Pisetsky sold 3,128 shares of SI-BONE stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $14.14, for a total value of $44,229.92. Following the completion of the sale, the senior vice president now directly owns 244,878 shares of the company’s stock, valued at approximately $3,462,574.92. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,311 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $14.15, for a total value of $46,850.65. Following the completion of the transaction, the insider now owns 284,555 shares in the company, valued at approximately $4,026,453.25. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,775 shares of company stock worth $95,711 over the last three months. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On SI-BONE

Several large investors have recently bought and sold shares of SIBN. Virtus Fund Advisers LLC bought a new position in shares of SI-BONE during the 4th quarter worth $40,000. Mainstream Capital Management LLC bought a new position in shares of SI-BONE in the fourth quarter worth $53,000. GAMMA Investing LLC increased its stake in SI-BONE by 20,352.6% in the 1st quarter. GAMMA Investing LLC now owns 3,886 shares of the company’s stock worth $55,000 after acquiring an additional 3,867 shares during the last quarter. R Squared Ltd bought a new stake in SI-BONE during the fourth quarter valued at approximately $73,000. Finally, KLP Kapitalforvaltning AS purchased a new position in SI-BONE in the fourth quarter worth $97,000. 98.11% of the stock is currently owned by institutional investors.

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.