In a report released yesterday, Patrick Wood from Morgan Stanley maintained a Buy rating on SI-Bone, with a price target of $20.00.
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Patrick Wood has given his Buy rating due to a combination of factors including SI-Bone’s strong performance across its business segments and its ambitious growth plans. The company is on track to achieve significant sales milestones, driven by innovation and increasing surgeon adoption of its products. Management’s strategy to onboard more surgeons and cross-sell existing ones is expected to enhance utilization and drive revenue growth.
Furthermore, upcoming product launches and regulatory filings present promising opportunities for SI-Bone. The anticipated launch of a new SI-joint fusion product and the filing for a breakthrough device in pelvic trauma are key catalysts. Additionally, improvements in reimbursement rates are expected to provide further financial benefits. Overall, the company’s confident outlook and strategic initiatives underpin the Buy rating.
According to TipRanks, Wood is a 2-star analyst with an average return of 0.1% and a 59.84% success rate. Wood covers the Healthcare sector, focusing on stocks such as Medtronic, Irhythm Technologies, and TransMedics Group.