SI-BONE (NASDAQ:SIBN) Price Target Cut to $19.00

SI-BONE (NASDAQ:SIBN) had its price objective reduced by Morgan Stanley from $21.00 to $19.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Truist Financial reduced their price target on SI-BONE from $20.00 to $18.00 and set a buy rating on the stock in a research report on Tuesday. Needham & Company LLC reduced their price target on SI-BONE from $27.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday. Finally, JMP Securities restated a market outperform rating and set a $32.00 price objective on shares of SI-BONE in a report on Tuesday, May 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $23.00.

SI-BONE Trading Down 1.8 %

Shares of NASDAQ SIBN traded down $0.25 during midday trading on Tuesday, hitting $13.98. The stock had a trading volume of 207,565 shares, compared to its average volume of 405,074. The company has a market capitalization of $576.12 million, a price-to-earnings ratio of -12.83 and a beta of 1.20. SI-BONE has a 1-year low of $11.76 and a 1-year high of $23.25. The company has a quick ratio of 8.75, a current ratio of 9.76 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $14.07 and a 200 day moving average price of $15.83.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.04. The business had revenue of $39.97 million for the quarter, compared to analyst estimates of $38.95 million. SI-BONE had a negative return on equity of 24.10% and a negative net margin of 27.10%. During the same period in the previous year, the company posted ($0.30) EPS. On average, analysts predict that SI-BONE will post -0.95 earnings per share for the current year.

Insider Activity

In related news, CFO Anshul Maheshwari sold 2,441 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total transaction of $36,956.74. Following the sale, the chief financial officer now directly owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,941 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.10, for a total value of $59,509.10. Following the sale, the insider now directly owns 247,592 shares of the company’s stock, valued at $3,738,639.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anshul Maheshwari sold 2,441 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the completion of the sale, the chief financial officer now directly owns 204,241 shares in the company, valued at $3,092,208.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,956 shares of company stock worth $172,480. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Amalgamated Bank increased its stake in SI-BONE by 12.9% in the 4th quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock worth $123,000 after purchasing an additional 673 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SI-BONE by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after purchasing an additional 2,108 shares in the last quarter. Arizona State Retirement System increased its stake in SI-BONE by 9.0% in the 2nd quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after purchasing an additional 903 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in SI-BONE during the 2nd quarter worth about $152,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in SI-BONE by 14.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock worth $179,000 after acquiring an additional 1,106 shares during the period. 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.