SI-BONE (NASDAQ:SIBN) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of SI-BONE (NASDAQ:SIBN) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $19.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Truist Financial lowered their target price on shares of SI-BONE from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley lowered their price objective on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.00.

SI-BONE Trading Up 3.9 %

SIBN opened at $12.92 on Wednesday. The business has a fifty day moving average of $14.03 and a 200 day moving average of $14.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.12 and a current ratio of 8.25. SI-BONE has a 52-week low of $11.76 and a 52-week high of $21.70.

Insiders Place Their Bets

In other news, insider Anthony J. Recupero sold 3,305 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $13.58, for a total value of $44,881.90. Following the completion of the sale, the insider now owns 233,412 shares of the company’s stock, valued at approximately $3,169,734.96. This represents a 1.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 7,147 shares of company stock worth $102,194 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of SI-BONE

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of SI-BONE by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 924,044 shares of the company’s stock valued at $12,921,000 after acquiring an additional 30,005 shares during the period. Barclays PLC grew its stake in SI-BONE by 190.8% in the third quarter. Barclays PLC now owns 96,623 shares of the company’s stock valued at $1,350,000 after purchasing an additional 63,402 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in SI-BONE in the third quarter worth about $448,000. Pier Capital LLC lifted its position in shares of SI-BONE by 23.6% during the third quarter. Pier Capital LLC now owns 465,898 shares of the company’s stock valued at $6,513,000 after buying an additional 88,897 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of SI-BONE by 29.0% in the 3rd quarter. Jane Street Group LLC now owns 77,359 shares of the company’s stock valued at $1,081,000 after buying an additional 17,410 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Company Profile

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.