SiBone (NASDAQ:SIBN) Given Buy Rating at Truist Financial

SiBone (NASDAQ:SIBN)‘s stock had its “buy” rating reiterated by equities researchers at Truist Financial in a research report issued on Tuesday,Benzinga reports. They presently have a $18.00 price objective on the stock, down from their previous price objective of $20.00. Truist Financial’s price target points to a potential upside of 35.53% from the stock’s previous close.

SIBN has been the subject of a number of other reports. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. TD Cowen reissued a “buy” rating on shares of SiBone in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

SiBone Trading Up 14.4%

SIBN opened at $13.28 on Tuesday. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The firm has a market capitalization of $587.55 million, a PE ratio of -30.12 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The company’s 50-day moving average is $13.40 and its 200 day moving average is $16.14.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The business had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. As a group, research analysts predict that SiBone will post -0.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SiBone news, CEO Laura Francis sold 93,475 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the sale, the chief executive officer owned 544,369 shares of the company’s stock, valued at $8,339,733.08. The trade was a 14.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mika Nishimura sold 4,100 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $13.83, for a total value of $56,703.00. Following the completion of the transaction, the director directly owned 32,716 shares of the company’s stock, valued at $452,462.28. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 167,697 shares of company stock worth $2,549,984 in the last three months. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On SiBone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of SiBone by 98.5% in the 4th 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. Assenagon Asset Management S.A. increased its position in shares of SiBone by 0.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after purchasing an additional 997 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in SiBone by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after purchasing an additional 1,053 shares in the last quarter. Larson Financial Group LLC raised its stake in SiBone by 42.3% in the fourth quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock valued at $70,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in SiBone by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after purchasing an additional 1,459 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

SiBone Company Profile

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.