SI-Bone (NASDAQ:SIBN) Raised to Buy at ValuEngine

ValuEngine upgraded shares of SI-Bone (NASDAQ:SIBN) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded SI-Bone from a sell rating to a hold rating in a research report on Saturday, July 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $24.75.

Shares of NASDAQ:SIBN traded down $0.22 on Thursday, reaching $17.70. 77,111 shares of the company traded hands, compared to its average volume of 101,188. SI-Bone has a fifty-two week low of $14.08 and a fifty-two week high of $23.03. The firm has a 50 day simple moving average of $18.95. The stock has a market cap of $440.18 million and a PE ratio of -24.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 13.06 and a quick ratio of 12.70.

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

In other news, Chairman Jeffrey W. Dunn sold 1,436 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.16, for a total value of $28,949.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laura Francis sold 2,518 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.34, for a total value of $48,698.12. The disclosure for this sale can be found here. Insiders have sold a total of 100,285 shares of company stock valued at $1,886,723 in the last quarter. Insiders own 38.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in SI-Bone during the 4th quarter worth approximately $15,835,000. Citigroup Inc. purchased a new position in SI-Bone during the 4th quarter worth approximately $46,000. Northern Trust Corp purchased a new position in SI-Bone during the 4th quarter worth approximately $2,109,000. Geode Capital Management LLC purchased a new position in SI-Bone during the 4th quarter worth approximately $1,972,000. Finally, American International Group Inc. purchased a new position in SI-Bone during the 4th quarter worth approximately $115,000. Institutional investors own 39.24% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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