SI-BONE (NASDAQ:SIBN) Reaches New 12-Month High at $22.50

Posted by Defense World Staff on Apr 23rd, 2023

SI-BONE, Inc. (NASDAQ:SIBN – Get Rating) shares reached a new 52-week high during trading on Friday . The stock traded as high as $22.50 and last traded at $22.38, with a volume of 13248 shares traded. The stock had previously closed at $22.22.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SIBN shares. Canaccord Genuity Group increased their target price on shares of SI-BONE from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 28th. Morgan Stanley upped their price objective on SI-BONE from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, February 28th. Cantor Fitzgerald upped their target price on shares of SI-BONE from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 28th. Needham & Company LLC lifted their price objective on SI-BONE from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Finally, Truist Financial lifted their target price on shares of SI-BONE from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.63.

SI-BONE Stock Performance

The company’s 50-day moving average is $19.33 and its two-hundred day moving average is $16.50. The stock has a market capitalization of $776.43 million, a P/E ratio of -12.40 and a beta of 0.94. The company has a current ratio of 6.50, a quick ratio of 5.68 and a debt-to-equity ratio of 0.36.

SI-BONE (NASDAQ:SIBN – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.10. The company had revenue of $31.95 million during the quarter, compared to analysts’ expectations of $31.80 million. SI-BONE had a negative return on equity of 56.40% and a negative net margin of 57.57%. As a group, sell-side analysts anticipate that SI-BONE, Inc. will post -1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Laura Francis sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $20.23, for a total value of $708,050.00. Following the completion of the transaction, the chief executive officer now owns 453,168 shares of the company’s stock, valued at approximately $9,167,588.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Anthony J. Recupero sold 5,193 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $16.70, for a total transaction of $86,723.10. Following the completion of the sale, the insider now owns 232,708 shares in the company, valued at approximately $3,886,223.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laura Francis sold 35,000 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $20.23, for a total transaction of $708,050.00. Following the completion of the sale, the chief executive officer now directly owns 453,168 shares of the company’s stock, valued at $9,167,588.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,895 shares of company stock worth $1,325,706. Company insiders own 5.40% of the company’s stock.

Institutional Trading of SI-BONE

Several institutional investors have recently made changes to their positions in SIBN. Paradigm Capital Management Inc. NY lifted its holdings in SI-BONE by 1,003.3% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 695,071 shares of the company’s stock valued at $9,453,000 after purchasing an additional 632,071 shares during the last quarter. First Light Asset Management LLC lifted its holdings in SI-BONE by 50.6% in the first quarter. First Light Asset Management LLC now owns 1,084,634 shares of the company’s stock valued at $24,513,000 after buying an additional 364,391 shares during the period. Pier Capital LLC acquired a new stake in SI-BONE during the 4th quarter worth $4,849,000. Granahan Investment Management LLC lifted its stake in SI-BONE by 29.7% in the fourth quarter. Granahan Investment Management LLC now owns 1,162,484 shares of the company’s stock valued at $15,810,000 after buying an additional 266,009 shares during the period. Finally, Impax Asset Management Group plc raised its position in shares of SI-BONE by 20.6% in the 4th quarter. Impax Asset Management Group plc now owns 1,200,343 shares of the company’s stock valued at $16,325,000 after acquiring an additional 205,000 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

SI-BONE Company Profile

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SI-BONE, Inc engages in the provision of implantable devices used in the surgical treatment of the sacropelvic anatomy. It offers a proprietary minimally invasive surgical implant system, called iFuse, used to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that often causes severe lower back pain.