SI-BONE, Inc. (NASDAQ:SIBN) Receives Average Recommendation of “Buy” from Brokerages

Shares of SI-BONE, Inc. (NASDAQ:SIBN) have earned an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $23.00.

SIBN has been the topic of several recent research reports. Truist Financial raised their price target on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a report on Wednesday, November 20th.

Insiders Place Their Bets

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $12.68, for a total value of $30,926.52. Following the completion of the transaction, the chief financial officer now owns 194,623 shares in the company, valued at $2,467,819.64. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the sale, the insider now owns 222,814 shares in the company, valued at $3,097,114.60. The trade was a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,348 shares of company stock valued at $356,349. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. Bank of New York Mellon Corp raised its holdings in shares of SI-BONE by 9.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 142,106 shares of the company’s stock worth $1,837,000 after purchasing an additional 12,158 shares during the period. Rhumbline Advisers increased its position in SI-BONE by 1.5% in the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock worth $768,000 after buying an additional 852 shares during the last quarter. Arizona State Retirement System raised its stake in shares of SI-BONE by 9.0% in the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after buying an additional 903 shares during the period. American Century Companies Inc. lifted its position in shares of SI-BONE by 22.8% during the 2nd quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock valued at $25,685,000 after buying an additional 368,637 shares during the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of SI-BONE during the 2nd quarter worth $1,552,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SI-BONE Stock Performance

SIBN opened at $13.72 on Friday. The company has a market cap of $575.39 million, a price-to-earnings ratio of -14.91 and a beta of 1.16. The company’s fifty day moving average price is $13.68 and its two-hundred day moving average price is $14.20. SI-BONE has a 1-year low of $11.70 and a 1-year high of $21.64. 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 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.