SI-BONE’s (SIBN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $19.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Truist Financial decreased their price objective on shares of SI-BONE from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley decreased their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SI-BONE currently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE Trading Up 3.9 %

SI-BONE stock opened at $12.92 on Wednesday. The firm has a 50 day simple moving average of $14.03 and a 200-day simple moving average of $14.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 8.12. The stock has a market capitalization of $541.86 million, a PE ratio of -14.04 and a beta of 1.22. SI-BONE has a 12-month low of $11.76 and a 12-month high of $21.70.

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 2,087 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.17, for a total value of $29,572.79. Following the completion of the sale, the insider now owns 236,717 shares in the company, valued at approximately $3,354,279.89. This represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 7,147 shares of company stock worth $102,194. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

Several hedge funds have recently made changes to their positions in the company. Champlain Investment Partners LLC lifted its position in shares of SI-BONE by 14.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock valued at $39,145,000 after acquiring an additional 358,821 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SI-BONE by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,463,501 shares of the company’s stock valued at $40,328,000 after acquiring an additional 43,670 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SI-BONE by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after acquiring an additional 368,637 shares in the last quarter. Bellevue Group AG lifted its position in shares of SI-BONE by 4.1% in the 3rd quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock valued at $20,189,000 after acquiring an additional 56,500 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in shares of SI-BONE by 24.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after acquiring an additional 267,100 shares in the last quarter. Hedge funds and other 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.