Cantor Fitzgerald Expects Stronger Earnings for SI-BONE

SI-BONE, Inc. (NASDAQ:SIBN) – Research analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of SI-BONE in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now expects that the company will earn ($0.65) per share for the year, up from their prior estimate 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.

Several other equities analysts also recently commented on SIBN. Truist Financial upped their price objective on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Down 3.8 %

Shares of NASDAQ:SIBN opened at $16.64 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. SI-BONE has a fifty-two week low of $11.70 and a fifty-two week high of $21.64. The company’s 50-day moving average is $13.93 and its 200 day moving average is $14.41.

Hedge Funds Weigh In On SI-BONE

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position 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 acquiring an additional 1,198 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of SI-BONE in the 2nd quarter worth about $61,000. R Squared Ltd purchased a new position in shares of SI-BONE in the 4th quarter worth about $73,000. Walleye Capital LLC purchased a new position in shares of SI-BONE during the 3rd quarter valued at about $144,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in SI-BONE in the 2nd quarter worth approximately $151,000. Institutional investors own 98.11% of the company’s stock.

Insider Buying and Selling at SI-BONE

In other SI-BONE news, CFO Anshul Maheshwari sold 2,439 shares of the company’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 transaction, the chief financial officer now directly owns 194,623 shares in the company, valued at $2,467,819.64. This represents a 1.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laura Francis sold 10,048 shares of SI-BONE stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the sale, the chief executive officer now owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. This trade represents a 2.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,348 shares of company stock valued at $356,349 in the last three months. Company insiders own 3.90% 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.