Needham & Company LLC Forecasts Strong Price Appreciation for SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) had its price target raised by Needham & Company LLC from $24.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 46.66% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Truist Financial lowered their price objective on SiBone from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research note on Monday, December 8th. Finally, Morgan Stanley raised their price target on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SiBone currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

SiBone Stock Down 1.0%

NASDAQ SIBN opened at $18.41 on Tuesday. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21. SiBone has a fifty-two week low of $12.49 and a fifty-two week high of $20.05. The business has a 50 day moving average price of $17.06 and a two-hundred day moving average price of $16.82. The stock has a market cap of $798.83 million, a PE ratio of -36.10 and a beta of 0.76.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The business had revenue of $48.66 million for the quarter, compared to analysts’ expectations of $46.67 million. As a group, sell-side analysts predict that SiBone will post -0.78 EPS for the current fiscal year.

Insider Activity at SiBone

In related news, insider Anthony J. Recupero sold 3,833 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $17.44, for a total transaction of $66,847.52. Following the transaction, the insider directly owned 268,144 shares in the company, valued at $4,676,431.36. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laura Francis sold 11,341 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $17.43, for a total transaction of $197,673.63. Following the sale, the chief executive officer owned 408,363 shares of the company’s stock, valued at approximately $7,117,767.09. The trade was a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 147,128 shares of company stock worth $2,698,252 over the last quarter. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of SiBone by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company’s stock valued at $34,292,000 after buying an additional 35,349 shares during the last quarter. Invesco Ltd. grew its holdings in shares of SiBone by 82.8% during the first quarter. Invesco Ltd. now owns 31,448 shares of the company’s stock valued at $441,000 after purchasing an additional 14,245 shares during the last quarter. Nuveen LLC bought a new position in shares of SiBone during the first quarter valued at approximately $18,605,000. Russell Investments Group Ltd. raised its position in shares of SiBone by 765.3% during the 1st quarter. Russell Investments Group Ltd. now owns 201,758 shares of the company’s stock worth $2,831,000 after purchasing an additional 178,442 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of SiBone by 11.1% in the 1st quarter. American Century Companies Inc. now owns 2,642,322 shares of the company’s stock worth $37,072,000 after purchasing an additional 264,254 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

SiBone 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.