SI-Bone (SIBN) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of SI-Bone (NASDAQ:SIBN) from a sell rating to a hold rating in a report issued on Wednesday, 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 cut shares of SI-Bone from a buy rating to a hold rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $24.75.

Shares of NASDAQ SIBN opened at $16.45 on Wednesday. SI-Bone has a 1 year low of $14.08 and a 1 year high of $23.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 14.73 and a current ratio of 15.11. The stock has a market cap of $414.58 million and a P/E ratio of -23.17.

SI-Bone (NASDAQ:SIBN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.13). The company had revenue of $14.99 million for the quarter. As a group, equities analysts predict that SI-Bone will post -0.86 EPS for the current fiscal year.

In related news, Director Mark A. Reiley sold 10,000 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $16.95, for a total transaction of $169,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 12,816 shares of company stock worth $217,286 in the last quarter.

A number of large investors have recently bought and sold shares of SIBN. Strs Ohio bought a new stake in SI-Bone during the fourth quarter worth $48,000. TD Asset Management Inc. acquired a new position in shares of SI-Bone during the fourth quarter worth $300,000. Victory Capital Management Inc. acquired a new position in shares of SI-Bone during the fourth quarter worth $261,000. Dean Capital Investments Management LLC acquired a new position in shares of SI-Bone during the fourth quarter worth $625,000. Finally, BlackRock Inc. acquired a new position in shares of SI-Bone during the fourth quarter worth $15,835,000. 38.15% of the stock is currently owned by institutional investors and hedge funds.

About SI-Bone

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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