Needham & Company LLC Reiterates Buy Rating for SI-Bone (NASDAQ:SIBN)

Needham & Company LLC reiterated their buy rating on shares of SI-Bone (NASDAQ:SIBN) in a research note published on Friday, TipRanks reports. They currently have a $22.00 price target on the stock.

Several other analysts also recently weighed in on SIBN. Morgan Stanley lifted their target price on shares of SI-Bone from $18.00 to $20.00 and gave the company an overweight rating in a report on Tuesday, May 5th. Zacks Investment Research raised shares of SI-Bone from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Saturday, May 2nd. BidaskClub raised shares of SI-Bone from a sell rating to a hold rating in a report on Saturday, May 23rd. JMP Securities lowered their target price on shares of SI-Bone from $27.00 to $22.00 and set a market outperform rating on the stock in a report on Tuesday, May 5th. Finally, ValuEngine raised shares of SI-Bone from a hold rating to a buy rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $22.67.

NASDAQ SIBN opened at $17.49 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.59 and a current ratio of 7.87. The firm has a market cap of $497.19 million, a PE ratio of -10.66 and a beta of 1.33. SI-Bone has a one year low of $7.20 and a one year high of $23.10. The firm’s fifty day moving average is $15.77 and its two-hundred day moving average is $17.59.

SI-Bone (NASDAQ:SIBN) last issued its earnings results on Monday, May 4th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.09). The firm had revenue of $16.82 million during the quarter, compared to analysts’ expectations of $17.98 million. SI-Bone had a negative net margin of 60.51% and a negative return on equity of 51.33%. Research analysts predict that SI-Bone will post -1.78 earnings per share for the current year.

In related news, insider Anthony J. Recupero sold 3,000 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $11.48, for a total transaction of $34,440.00. Following the sale, the insider now owns 75,464 shares of the company’s stock, valued at $866,326.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 38.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SIBN. Bank of Montreal Can lifted its holdings in shares of SI-Bone by 48.5% in the fourth quarter. Bank of Montreal Can now owns 2,098 shares of the company’s stock valued at $45,000 after purchasing an additional 685 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of SI-Bone by 53.4% in the first quarter. Citigroup Inc. now owns 5,035 shares of the company’s stock valued at $60,000 after purchasing an additional 1,753 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of SI-Bone in the first quarter valued at about $67,000. BNP Paribas Arbitrage SA lifted its holdings in shares of SI-Bone by 144.6% in the first quarter. BNP Paribas Arbitrage SA now owns 5,779 shares of the company’s stock valued at $69,000 after purchasing an additional 3,416 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of SI-Bone in the first quarter valued at about $75,000. 65.29% of the stock is currently owned by 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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Analyst Recommendations for SI-Bone (NASDAQ:SIBN)

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