SI-BONE (NASDAQ:SIBN) Given New $18.00 Price Target at Truist Financial

SI-BONE (NASDAQ:SIBN) had its price target boosted by Truist Financial from $16.00 to $18.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on SIBN. Morgan Stanley decreased their price target on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price target on shares of SI-BONE in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $23.00.

SI-BONE Price Performance

Shares of SIBN opened at $13.14 on Wednesday. The stock’s 50-day moving average price is $14.14 and its two-hundred day moving average price is $14.32. SI-BONE has a 1 year low of $11.76 and a 1 year high of $21.70. The stock has a market cap of $547.81 million, a P/E ratio of -14.28 and a beta of 1.22. The company has a current ratio of 9.17, a quick ratio of 8.12 and a debt-to-equity ratio of 0.22.

Insiders Place Their Bets

In other news, CEO Laura Francis sold 9,967 shares of SI-BONE stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $137,943.28. Following the completion of the transaction, the chief executive officer now owns 492,923 shares of the company’s stock, valued at $6,822,054.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Laura Francis sold 9,967 shares of SI-BONE stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.84, for a total transaction of $137,943.28. Following the completion of the transaction, the chief executive officer now owns 492,923 shares in the company, valued at approximately $6,822,054.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anthony J. Recupero sold 3,905 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $13.84, for a total value of $54,045.20. Following the completion of the sale, the insider now owns 238,804 shares in the company, valued at $3,305,047.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,017 shares of company stock valued at $349,587. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SI-BONE

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of SI-BONE by 103.6% during the 3rd quarter. FMR LLC now owns 2,354 shares of the company’s stock worth $33,000 after buying an additional 1,198 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of SI-BONE during the second quarter worth approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of SI-BONE by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,649 shares of the company’s stock valued at $138,000 after purchasing an additional 2,108 shares during the last quarter. Arizona State Retirement System increased its stake in shares of SI-BONE by 9.0% during the second quarter. Arizona State Retirement System now owns 10,921 shares of the company’s stock worth $141,000 after purchasing an additional 903 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in SI-BONE during the 2nd quarter worth approximately $151,000. 98.11% of the stock is owned by institutional investors.

About SI-BONE

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.