According to a report by Bloomberg, &SI-BONE, Inc. (NASDAQ:SIBN) has received a unanimous “Buy” recommendation from seven research firms that currently cover the stock. These investment analysts have given the company a buy rating, indicating their confidence in its potential for growth and profitability. Additionally, these analysts have updated their coverage on the stock in the past year and have set an average 12-month target price of $28.00.
Shares of SI-BONE (NASDAQ:SIBN) opened at $21.06 on Thursday, reflecting the company’s performance in the stock market. It is worth noting that SI-BONE has experienced a 52-week low of $11.14 and a 52-week high of $29.51 during this period.
As for its financials, SI-BONE possesses a market capitalization of $814.81 million with a price-to-earnings ratio of -15.60 and a beta value of 0.93. The company’s two-hundred day moving average stands at $22.62, while its 50-day moving average is $25.82.
SI-BONE, Inc., primarily operating in the United States and internationally, specializes in developing implantable devices to address musculoskeletal disorders associated with the sacropelvic anatomy. Its flagship product is a proprietary minimally invasive surgical implant system specifically designed to treat conditions such as sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma.
Given the positive rating from various research firms and its innovative approach to solving musculoskeletal disorders, it is evident that SI-BONE has positioned itself as a promising player within the medical device industry.
Reference:
Bloomberg
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SI-BONE, Inc.: Analyst Reports, Insider Transactions, and Institutional Interest Highlight Potential Growth Opportunities in the Medical Device Industry
SI-BONE, Inc. has garnered significant attention in recent analyst reports, as financial institutions continue to evaluate the performance and potential of the medical device company. Bank of America recently raised its target price on SI-BONE from $28.00 to $33.00. Similarly, Cantor Fitzgerald reaffirmed an “overweight” rating and set a target price of $30.00 for the company’s shares. Truist Financial, on the other hand, lowered its price target from $33.00 to $31.00 but maintained a “buy” rating.
SI-BONE focuses on developing implantable devices that address musculoskeletal disorders of the sacropelvic anatomy across both domestic and global markets. Their proprietary minimally invasive surgical implant system tackles issues related to sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma.
In recent news pertaining to SI-BONE, Director John Gordon Freund sold 30,000 shares of the company’s stock on August 9th at an average price of $20.54 per share, totaling a value of $616,200. Following this transaction, Freund now owns 103,899 shares with an estimated worth of $2,134,085.46.
Director Jeryl L. Hilleman also sold 2,081 shares on June 15th at an average price of $28.74 per share for a total value of $59,807.94. Hilleman currently holds 17,430 shares valued at approximately $500,938.20.
These transactions were disclosed via filings with the Securities & Exchange Commission (SEC) accessible through their official website.
Overall insider activity indicates that over the past three months alone insiders have sold a total of 60,844 shares worth $1,345,938 — representing approximately 5.40% ownership in the company.
Beyond insider movements within the organization, hedge funds and other institutional investors have also made notable changes to their positions in SI-BONE. Harbor Capital Advisors Inc. initiated a new position during the second quarter, investing approximately $47,000 in the company. FMR LLC increased its stake by 28.7% during the first quarter and now owns 2,160 shares valued at $42,000. Larson Financial Group LLC acquired a new stake worth around $49,000 in the first quarter while Lazard Asset Management LLC purchased a new stake for approximately $70,000 during the second quarter. Ensign Peak Advisors Inc also entered the market, investing $48,000 in SI-BONE during the third quarter.
These institutional moves affirm ongoing interest from prominent financial entities within the medical device industry.
As of August 17, 2023, SI-BONE continues to attract attention from major institutions due to its innovative portfolio of implantable devices focused on addressing sacropelvic anatomical disorders. Analyst reports and insider transactions provide valuable insights into both performance and potential growth opportunities for SI-BONE as it navigates the ever-evolving healthcare landscape.
