Cantor Fitzgerald Lifts Earnings Estimates for SI-BONE

SI-BONE, Inc. (NASDAQ:SIBN) – Cantor Fitzgerald lifted their FY2024 earnings estimates for SI-BONE in a report issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings per share of ($0.65) for the year, up from their prior forecast of ($0.69). The consensus estimate for SI-BONE’s current full-year earnings is ($0.78) per share. Cantor Fitzgerald also issued estimates for SI-BONE’s FY2025 earnings at ($0.19) EPS.

Other analysts have also issued reports about the company. Truist Financial lifted their price target on SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of SI-BONE in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

SI-BONE stock opened at $16.25 on Thursday. The stock has a market cap of $681.53 million, a P/E ratio of -17.66 and a beta of 1.16. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average price is $14.08 and its two-hundred day moving average price is $14.44. SI-BONE has a 52 week low of $11.70 and a 52 week high of $21.64.

Hedge Funds Weigh In On SI-BONE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings 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. FMR LLC raised its stake in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company’s stock valued at $33,000 after purchasing an additional 1,198 shares in the last quarter. Franklin Resources Inc. lifted its position in SI-BONE by 9.4% during the third quarter. Franklin Resources Inc. now owns 20,220 shares of the company’s stock valued at $265,000 after purchasing an additional 1,745 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in SI-BONE in the 2nd quarter worth approximately $61,000. Finally, R Squared Ltd bought a new position in shares of SI-BONE in the 4th quarter worth $73,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the firm’s stock in a transaction dated 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 trade 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 this hyperlink. Also, insider Anthony J. Recupero sold 3,937 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $12.60, for a total transaction of $49,606.20. Following the transaction, the insider now directly owns 228,554 shares of the company’s stock, valued at approximately $2,879,780.40. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,348 shares of company stock worth $356,349 over the last ninety days. 3.90% of the stock is currently owned by company insiders.

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.