SI-Bone’s (SIBN) “Hold” Rating Reaffirmed at Zacks Investment Research

SI-Bone (NASDAQ:SIBN)‘s stock had its “hold” rating restated by Zacks Investment Research in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “SI-BONE Inc. is a medical device company which developed the iFuse Implant System(R) for minimally invasive surgical treatment of the sacroiliac joint dysfunction. SI-BONE Inc. is based in Santa Clara, California. “

Separately, ValuEngine downgraded SI-Bone from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.75.

SI-Bone stock traded up $1.40 during mid-day trading on Friday, reaching $20.34. 1,829,010 shares of the company were exchanged, compared to its average volume of 176,832. The firm’s fifty day simple moving average is $16.96. SI-Bone has a 12 month low of $14.08 and a 12 month high of $23.03. The company has a current ratio of 13.06, a quick ratio of 12.70 and a debt-to-equity ratio of 0.47. The company has a market cap of $499.55 million and a price-to-earnings ratio of -28.65.

SI-Bone (NASDAQ:SIBN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.13). The business had revenue of $14.99 million during the quarter. As a group, research analysts expect that SI-Bone will post -1.45 EPS for the current year.

In other SI-Bone news, insider Scott A. Yerby sold 10,133 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $16.05, for a total value of $162,634.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Reiley sold 10,000 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $16.95, for a total value of $169,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,310 shares of company stock worth $759,064. Company insiders own 38.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Granite Investment Partners LLC bought a new position in SI-Bone in the first quarter valued at $851,000. Federated Investors Inc. PA increased its stake in SI-Bone by 111.4% in the first quarter. Federated Investors Inc. PA now owns 370,000 shares of the company’s stock valued at $6,971,000 after acquiring an additional 195,000 shares during the last quarter. Spark Investment Management LLC bought a new position in SI-Bone in the first quarter valued at $872,000. Valeo Financial Advisors LLC bought a new position in SI-Bone in the first quarter valued at $94,000. Finally, Deutsche Bank AG bought a new position in SI-Bone in the fourth quarter valued at $227,000. 38.89% of the stock is currently owned by hedge funds and other institutional investors.

SI-Bone Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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