Needham & Company LLC Trims SI-BONE (NASDAQ:SIBN) Target Price to $19.00

SI-BONE (NASDAQ:SIBN) had its price target decreased by Needham & Company LLC from $27.00 to $19.00 in a research report released on Tuesday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Truist Financial decreased their target price on SI-BONE from $20.00 to $18.00 and set a buy rating on the stock in a report on Tuesday. JMP Securities reissued a market outperform rating and set a $32.00 price target on shares of SI-BONE in a report on Tuesday, May 7th. Finally, Morgan Stanley decreased their price target on SI-BONE from $25.00 to $21.00 and set an overweight rating on the stock in a report on Monday, July 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $23.00.

SI-BONE Stock Down 3.0 %

SIBN stock traded down $0.42 on Tuesday, reaching $13.81. 39,733 shares of the company traded hands, compared to its average volume of 403,936. The firm has a fifty day simple moving average of $14.07 and a 200-day simple moving average of $15.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.76 and a quick ratio of 8.75. SI-BONE has a one year low of $11.76 and a one year high of $23.25. The company has a market cap of $569.04 million, a P/E ratio of -13.06 and a beta of 1.20.

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 analysts’ consensus estimates of ($0.26) by $0.04. The firm had revenue of $39.97 million for the quarter, compared to the consensus estimate of $38.95 million. SI-BONE had a negative return on equity of 25.14% and a negative net margin of 29.93%. During the same period last year, the business posted ($0.30) EPS. Research analysts anticipate that SI-BONE will post -0.95 earnings per share for the current year.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the transaction, the insider now owns 243,629 shares in the company, valued at $3,147,686.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SI-BONE news, insider Anthony J. Recupero sold 3,309 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $12.92, for a total transaction of $42,752.28. Following the completion of the transaction, the insider now owns 243,629 shares in the company, valued at $3,147,686.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 2,441 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.14, for a total value of $36,956.74. Following the completion of the sale, the chief financial officer now owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The disclosure for this sale can be found here. Insiders sold 11,956 shares of company stock worth $172,480 over the last 90 days. Company insiders own 5.40% of the company’s stock.

Institutional Trading of SI-BONE

Large investors have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in shares of SI-BONE by 12.9% in the fourth quarter. Amalgamated Bank now owns 5,877 shares of the company’s stock valued at $123,000 after purchasing an additional 673 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 14.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,541 shares of the company’s stock worth $179,000 after buying an additional 1,106 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock worth $138,000 after buying an additional 2,108 shares in the last quarter. Arizona State Retirement System raised its stake in SI-BONE by 7.7% in the fourth quarter. Arizona State Retirement System now owns 10,675 shares of the company’s stock worth $224,000 after buying an additional 762 shares in the last quarter. Finally, RiverPark Advisors LLC raised its stake in SI-BONE by 260.4% in the first quarter. RiverPark Advisors LLC now owns 11,357 shares of the company’s stock worth $186,000 after buying an additional 8,206 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.