SiBone (NASDAQ:SIBN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of SiBone (NASDAQ:SIBN) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.00.

A number of equities research analysts have weighed in on SIBN shares. Truist Financial reiterated a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, TD Cowen decreased their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th.

SiBone Price Performance

Shares of NASDAQ SIBN opened at $17.33 on Friday. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The firm has a market cap of $768.59 million, a P/E ratio of -44.44 and a beta of 0.70. The company has a 50 day moving average of $14.42 and a 200 day moving average of $15.59. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The company had revenue of $52.59 million during the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. As a group, research analysts expect that SiBone will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 3,318 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the completion of the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. The trade was a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy E. Davis, Jr. sold 3,500 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $14.14, for a total transaction of $49,490.00. Following the sale, the director owned 65,722 shares of the company’s stock, valued at approximately $929,309.08. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 36,327 shares of company stock worth $520,834. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC increased its stake in shares of SiBone by 6.4% in the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after purchasing an additional 320,286 shares in the last quarter. American Century Companies Inc. increased its stake in shares of SiBone by 22.5% in the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock worth $41,777,000 after purchasing an additional 521,683 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares in the last quarter. Granahan Investment Management LLC increased its stake in shares of SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Finally, Nuveen LLC increased its stake in shares of SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares in the last quarter. 98.11% of the stock is currently owned by hedge funds and other 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.