FY2024 EPS Estimates for SI-BONE Raised by Cantor Fitzgerald

SI-BONE, Inc. (NASDAQ:SIBN) – Research analysts at Cantor Fitzgerald raised their FY2024 earnings estimates for SI-BONE in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings of ($0.69) per share for the year, up from their previous forecast of ($0.95). The consensus estimate for SI-BONE’s current full-year earnings is ($0.78) per share.

A number of other brokerages have also recently issued reports on SIBN. Morgan Stanley dropped their price target on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on shares of SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, SI-BONE presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Stock Performance

Shares of SIBN opened at $12.36 on Monday. The company has a quick ratio of 8.12, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The stock has a market cap of $518.35 million, a P/E ratio of -13.43 and a beta of 1.22. The business’s 50 day moving average price is $13.97 and its 200-day moving average price is $14.27. SI-BONE has a 52 week low of $11.76 and a 52 week high of $21.70.

Insider Transactions at SI-BONE

In related news, insider Anthony J. Recupero sold 3,305 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the sale, the insider now directly owns 233,412 shares of the company’s stock, valued at $3,169,734.96. This represents a 1.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 5,060 shares of company stock worth $72,621 in the last three months. Insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in SI-BONE by 1.5% during the second quarter. Rhumbline Advisers now owns 59,419 shares of the company’s stock valued at $768,000 after purchasing an additional 852 shares in the last quarter. Arizona State Retirement System lifted its position in SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock valued at $141,000 after acquiring an additional 903 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in SI-BONE by 7.5% in the second 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. FMR LLC grew its holdings in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after purchasing an additional 1,198 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of SI-BONE by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,494 shares of the company’s stock worth $336,000 after purchasing an additional 1,372 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.