SiBone (NASDAQ:SIBN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SiBone (NASDAQ:SIBN) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other brokerages also recently commented on SIBN. TD Cowen increased their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Canaccord Genuity Group lifted their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Truist Financial reiterated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Morgan Stanley raised their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Needham & Company LLC lifted their price objective on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SiBone currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

SiBone Stock Down 0.1%

Shares of NASDAQ SIBN opened at $12.28 on Friday. The stock has a market capitalization of $542.41 million, a P/E ratio of -27.91 and a beta of 0.69. The company has a 50-day moving average price of $14.93 and a 200-day moving average price of $16.45. SiBone has a 1 year low of $12.15 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The company had revenue of $56.35 million for the quarter, compared to analyst estimates of $56.26 million. On average, equities research analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Anshul Maheshwari sold 21,528 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the sale, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at approximately $4,095,582.42. This trade represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total value of $324,154.60. Following the sale, the insider owned 243,418 shares in the company, valued at $3,748,637.20. This trade represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,611 shares of company stock valued at $3,136,244 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after buying an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in SiBone in the first quarter worth about $225,000. Goldman Sachs Group Inc. raised its position in SiBone by 28.4% in the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after acquiring an additional 83,919 shares during the period. Jane Street Group LLC purchased a new position in SiBone in the first quarter valued at about $1,818,000. Finally, Legal & General Group Plc boosted its stake in SiBone by 16.1% in the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors.

About SiBone

Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.

FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.