SI-BONE (NASDAQ:SIBN) Shares Up 5.4%

SI-BONE, Inc. (NASDAQ:SIBN) shares shot up 5.4% during mid-day trading on Monday . The company traded as high as $14.12 and last traded at $14.10. 75,619 shares changed hands during trading, a decline of 80% from the average session volume of 379,679 shares. The stock had previously closed at $13.38.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SIBN. Truist Financial decreased their target price on shares of SI-BONE from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC decreased their price objective on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Morgan Stanley lowered their target price on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $23.00.

SI-BONE Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 9.17. The company’s fifty day moving average price is $15.08 and its 200 day moving average price is $14.72. The firm has a market capitalization of $560.39 million, a price-to-earnings ratio of -12.50 and a beta of 1.22.

SI-BONE (NASDAQ:SIBN) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping 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 company had revenue of $39.97 million during the quarter, compared to analysts’ expectations of $38.95 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Equities research analysts expect that SI-BONE, Inc. will post -0.89 earnings per share for the current year.

Insider Buying and Selling at SI-BONE

In related news, insider Anthony J. Recupero sold 2,087 shares of SI-BONE stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.17, for a total transaction of $29,572.79. Following the transaction, the insider now directly owns 236,717 shares of the company’s stock, valued at $3,354,279.89. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other SI-BONE news, insider Anthony J. Recupero sold 3,905 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $54,045.20. Following the sale, the insider now owns 238,804 shares in the company, valued at approximately $3,305,047.36. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $29,572.79. Following the completion of the transaction, the insider now owns 236,717 shares of the company’s stock, valued at $3,354,279.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,714 shares of company stock valued at $304,997. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On SI-BONE

A number of large investors have recently made changes to their positions in SIBN. Champlain Investment Partners LLC grew its position in SI-BONE by 104.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,453,147 shares of the company’s stock worth $40,158,000 after purchasing an additional 1,255,610 shares in the last quarter. Bellevue Group AG grew its holdings in shares of SI-BONE by 810.5% during the first quarter. Bellevue Group AG now owns 1,139,956 shares of the company’s stock valued at $18,661,000 after buying an additional 1,014,756 shares in the last quarter. American Century Companies Inc. raised its position in SI-BONE by 22.8% during the second 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 period. Paradigm Capital Management Inc. NY raised its position in SI-BONE by 24.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock valued at $17,448,000 after buying an additional 267,100 shares during the period. Finally, Wellington Management Group LLP lifted its stake in SI-BONE by 34.9% in the 4th quarter. Wellington Management Group LLP now owns 817,048 shares of the company’s stock worth $17,150,000 after acquiring an additional 211,209 shares in the last quarter. Institutional investors and hedge funds 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.