SiBone (NASDAQ:SIBN) Stock Has Consensus Target Price of $24.17

Shares of SiBone (NASDAQ:SIBN) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.17.

Several research firms recently issued reports on SIBN. TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. UBS Group increased their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Truist Financial reissued a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th.

Insiders Place Their Bets

In related news, CEO Laura Francis sold 51,884 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $19.46, for a total value of $1,009,662.64. Following the transaction, the chief executive officer directly owned 321,386 shares of the company’s stock, valued at approximately $6,254,171.56. The trade was a 13.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anshul Maheshwari sold 11,636 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $20.11, for a total transaction of $233,999.96. Following the sale, the insider owned 223,284 shares of the company’s stock, valued at approximately $4,490,241.24. The trade was a 4.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 158,780 shares of company stock worth $3,085,695 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of SiBone

A number of large investors have recently bought and sold shares of SIBN. First Light Asset Management LLC grew its position in shares of SiBone by 51.8% during the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock valued at $132,649,000 after purchasing an additional 2,774,795 shares in the last quarter. Granahan Investment Management LLC increased its stake in 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 acquiring an additional 858,942 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in SiBone by 113.3% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after acquiring an additional 598,300 shares during the last quarter. Renaissance Technologies LLC lifted its position in SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock valued at $5,969,000 after purchasing an additional 238,219 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in SiBone by 41.8% in the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after acquiring an additional 182,465 shares during the last quarter. 98.11% of the stock is owned by hedge funds and other institutional investors.

SiBone Price Performance

SiBone stock opened at $18.80 on Monday. The stock’s 50 day moving average is $18.61 and its 200 day moving average is $16.03. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55. The firm has a market cap of $833.78 million, a P/E ratio of -55.29 and a beta of 0.70. SiBone has a one year low of $11.48 and a one year high of $21.89.

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

About SiBone

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on developing and commercializing solutions for disorders of the sacroiliac joint and pelvic region. Its products are designed to support minimally invasive procedures that stabilize the sacroiliac joint and address sacroiliac joint dysfunction, degeneration, and related conditions.

The company’s portfolio includes the iFuse Implant System, iFuse-3D implants, iFuse-TORQ implants, and the iFuse Bedrock Granite system for sacroiliac joint fusion and pelvic fixation.