SI-BONE (NASDAQ:SIBN – Get an assessment) had its price target lowered by JMP Securities from $36.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The company currently has a “market outperforming” rating on the stock. JMP Securities’ target price would suggest a potential upside of 90.82% from the current share price.
Other analysts have also recently released reports on the company. Jefferies Financial Group began covering SI-BONE in a research note on Wednesday, October 12. They set a “buy” rating and a price target of $20.00 for the company. Morgan Stanley raised its price target on SI-BONE from $21.00 to $22.00 and gave the stock an “overweight” rating in a Tuesday, October 11 research report. Truist Financial lowered its target price on SI-BONE to $17.00 in a Friday, July 22 report. Finally, Needham & Company LLC reduced its price target on SI-BONE from $28.00 to $24.00 and set a “buy” rating for the company in a Tuesday, August 9 research report. Seven research analysts rated the stock with a buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $26.00.
Performance of SI-BONE shares
Shares of SIBN opened at $16.77 on Tuesday. SI-BONE has a 12 month minimum of $11.89 and a 12 month maximum of $25.00. The company’s fifty-day moving average price is $17.48 and its 200-day moving average price is $16.02. The company has a current ratio of 8.90, a quick ratio of 7.91 and a debt ratio of 0.32. The stock has a market capitalization of $568.17 million, a PE ratio of -8.51 and a beta of 1.13.
SI-BONE (NASDAQ:SIBN – Get Rating) last released its quarterly results on Monday August 8th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.49) by ($0.05). The company posted revenue of $25.59 million for the quarter, versus a consensus estimate of $25.12 million. SI-BONE had a negative return on equity of 51.84% and a negative net margin of 69.36%. During the same period of the previous year, the company posted EPS ($0.42). On average, equity analysts expect SI-BONE to post -1.88 EPS for the current fiscal year.
Insiders place their bets
Separately, director Jeffrey W. Dunn sold 2,114 shares of the company in a transaction dated Monday, October 17. The shares were sold at an average price of $18.34, for a total transaction of $38,770.76. Following the transaction, the administrator now directly owns 113,842 shares of the company, valued at approximately $2,087,862.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Separately, CEO Laura Francis sold 5,248 shares of SI-BONE in a trade that took place on Tuesday, August 16. The shares were sold at an average price of $17.29, for a total value of $90,737.92. Following completion of the transaction, the CEO now owns 326,147 shares of the company, valued at $5,639,081.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Jeffrey W. Dunn sold 2,114 shares of the company in a trade that took place on Monday, October 17. The stock was sold at an average price of $18.34, for a total transaction of $38,770.76. Following the sale, the director now owns 113,842 shares of the company, valued at approximately $2,087,862.28. The disclosure of this sale can be found here. During the last quarter, insiders sold 26,916 shares of the company valued at $468,710. Insiders of the company own 5.40% of the shares of the company.
Institutional trading of SI-BONE
Major investors have recently been buying and selling shares of the company. Russell Investments Group Ltd. increased its stake in SI-BONE by 33.5% in the third quarter. Russell Investments Group Ltd. now owns 26,232 shares of the company worth $457,000 after purchasing an additional 6,587 shares in the last quarter. Xcel Wealth Management LLC increased its holdings of SI-BONE shares by 13.1% during the third quarter. Xcel Wealth Management LLC now owns 43,725 shares of the company worth $763,000 after purchasing an additional 5,050 shares last quarter. Federated Hermes Inc. acquired a new equity stake in SI-BONE in the second quarter valued at approximately $1,089,000. Brown Advisory Inc. increased its stake in SI-BONE by 12.5% in the 2nd quarter. Brown Advisory Inc. now owns 3,567,981 shares of the company valued at $47,098,000 after acquiring 395,658 additional shares last quarter. Finally, Amundi increased its stake in SI-BONE shares by 11.3% in the 2nd quarter. Amundi now owns 501,189 shares of the company valued at $6,115,000 after purchasing an additional 50,845 shares in the last quarter.
SI-BONE Company Profile
(Get a rating)
SI-BONE, Inc, a medical device company, develops implantable devices used to address musculoskeletal disorders of the sacropelvic anatomy in the United States and around the world. It offers iFuse, a minimally invasive surgical implant system to treat sacroiliac joint dysfunction and degeneration, adult deformity, and traumatic pelvic ring fractures.
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