Brokerages Set SiBone (NASDAQ:SIBN) PT at $24.29

SiBone (NASDAQ:SIBN) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.1667.

A number of brokerages have weighed in on SIBN. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. UBS Group raised their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Truist Financial reaffirmed a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. TD Cowen upped their price target on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings cut shares of SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th.

SiBone Stock Performance

NASDAQ SIBN opened at $18.95 on Friday. The company has a fifty day moving average of $17.00 and a two-hundred day moving average of $15.21. The company has a market capitalization of $840.43 million, a PE ratio of -55.74 and a beta of 0.66. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to analysts’ expectations of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, analysts expect that SiBone will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Michael A. Pisetsky sold 3,134 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $16.71, for a total transaction of $52,369.14. Following the completion of the sale, the senior vice president owned 277,375 shares in the company, valued at approximately $4,634,936.25. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Laura Francis sold 14,957 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $14.71, for a total value of $220,017.47. Following the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at approximately $7,405,661.24. This represents a 2.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 55,989 shares of company stock valued at $910,429. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SIBN. ANTIPODES PARTNERS Ltd acquired a new position in SiBone in the 4th quarter valued at $29,000. Versant Capital Management Inc boosted its holdings in shares of SiBone by 102.9% in the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after acquiring an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of SiBone by 64,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after acquiring an additional 1,941 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of SiBone during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.