SI-BONE (NASDAQ:SIBN) Price Target Cut to $16.00 by Analysts at Truist Financial

SI-BONE (NASDAQ:SIBN) had its price objective decreased by Truist Financial from $18.00 to $16.00 in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on SIBN. Needham & Company LLC decreased their price target on SI-BONE from $27.00 to $19.00 and set a buy rating for the company in a research report on Tuesday, August 6th. Morgan Stanley decreased their price target on SI-BONE from $21.00 to $19.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average price target of $22.67.

SI-BONE Trading Down 0.2 %

Shares of SIBN stock opened at $13.10 on Monday. The stock has a 50-day simple moving average of $14.75 and a 200 day simple moving average of $14.57. SI-BONE has a fifty-two week low of $11.76 and a fifty-two week high of $21.70. The stock has a market capitalization of $546.14 million, a P/E ratio of -12.97 and a beta of 1.22. The company has a quick ratio of 8.12, a current ratio of 9.17 and a debt-to-equity ratio of 0.22.

SI-BONE (NASDAQ:SIBN) last announced its earnings results 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. SI-BONE had a negative return on equity of 24.27% and a negative net margin of 27.10%. The business had revenue of $39.97 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter last year, the business posted ($0.30) earnings per share. On average, sell-side analysts expect that SI-BONE will post -0.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 2,087 shares of the stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 236,717 shares of the company’s stock, valued at approximately $3,354,279.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Anshul Maheshwari sold 2,418 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.87, for a total transaction of $33,537.66. Following the completion of the sale, the chief financial officer now directly owns 198,762 shares of the company’s stock, valued at $2,756,828.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 2,087 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total value of $29,572.79. Following the sale, the insider now directly owns 236,717 shares of the company’s stock, valued at $3,354,279.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,019 shares of company stock valued at $349,879. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC bought a new position in shares of SI-BONE in the 3rd quarter valued at approximately $2,342,000. Diversified Trust Co raised its stake in shares of SI-BONE by 27.6% in the 3rd quarter. Diversified Trust Co now owns 27,160 shares of the company’s stock valued at $380,000 after acquiring an additional 5,875 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of SI-BONE in the 3rd quarter valued at approximately $353,000. Susquehanna Fundamental Investments LLC bought a new position in shares of SI-BONE in the 2nd quarter valued at approximately $454,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of SI-BONE by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,880 shares of the company’s stock valued at $205,000 after acquiring an additional 1,105 shares in the last quarter. 98.11% of the stock is owned by hedge funds and other 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.