SI-BONE (NASDAQ:SIBN) Receives Overweight Rating from Cantor Fitzgerald

SI-BONE (NASDAQ:SIBN)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $25.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 75.44% from the company’s previous close.

Several other brokerages also recently weighed in on SIBN. Truist Financial restated a “buy” rating and set a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research report on Tuesday, February 25th. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target on shares of SI-BONE in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, SI-BONE currently has a consensus rating of “Buy” and an average price target of $24.40.

SI-BONE Trading Up 1.9 %

NASDAQ SIBN opened at $14.25 on Tuesday. The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. SI-BONE has a 12-month low of $11.70 and a 12-month high of $19.16. The company has a fifty day simple moving average of $14.53 and a two-hundred day simple moving average of $14.69. The stock has a market cap of $606.04 million, a P/E ratio of -15.49 and a beta of 0.82.

SI-BONE (NASDAQ:SIBN) last issued its earnings results on Monday, May 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.09. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%. The business had revenue of $47.29 million for the quarter, compared to analysts’ expectations of $45.13 million. On average, analysts forecast that SI-BONE will post -0.78 earnings per share for the current year.

Insider Activity at SI-BONE

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

Hedge Funds Weigh In On SI-BONE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. raised its holdings in shares of SI-BONE by 35.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 841,045 shares of the company’s stock valued at $11,791,000 after purchasing an additional 220,555 shares during the period. JPMorgan Chase & Co. raised its position in shares of SI-BONE by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 177,793 shares of the company’s stock valued at $2,486,000 after purchasing an additional 22,732 shares during the period. Barclays PLC lifted its holdings in SI-BONE by 190.8% during the 3rd quarter. Barclays PLC now owns 96,623 shares of the company’s stock worth $1,350,000 after purchasing an additional 63,402 shares in the last quarter. Rhumbline Advisers boosted its position in shares of SI-BONE by 3.0% in the fourth quarter. Rhumbline Advisers now owns 57,621 shares of the company’s stock valued at $808,000 after acquiring an additional 1,683 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in SI-BONE in the 4th quarter worth about $155,000. Institutional investors own 98.11% of the company’s stock.

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.