SiBone (NASDAQ:SIBN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of SiBone (NASDAQ:SIBN) have been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.50.

Several research analysts recently issued reports on SIBN shares. TD Cowen reduced their target price on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Truist Financial boosted their price target on SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SiBone in a research report on Thursday, July 2nd.

SiBone Trading Down 0.5%

Shares of NASDAQ:SIBN opened at $17.04 on Wednesday. The company has a market capitalization of $755.72 million, a PE ratio of -43.69 and a beta of 0.67. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The business’s fifty day simple moving average is $15.79 and its 200-day simple moving average is $15.27.

SiBone (NASDAQ:SIBN) last issued 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. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%.The firm had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. As a group, equities research analysts predict that SiBone will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other SiBone news, SVP Michael A. Pisetsky sold 3,134 shares of SiBone stock in a transaction dated Thursday, July 2nd. The stock was 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 of the company’s stock, valued at approximately $4,634,936.25. The trade was a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the sale, the chief executive officer owned 503,444 shares in the company, valued at approximately $7,405,661.24. The trade was a 2.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 36,326 shares of company stock valued at $545,661. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently modified their holdings of SIBN. First Light Asset Management LLC raised its position in SiBone by 6.4% during the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after buying an additional 320,286 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of SiBone by 0.5% during the fourth 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 during the last quarter. Granahan Investment Management LLC raised its holdings in shares of SiBone by 97.6% during the first 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 during the last quarter. Nuveen LLC lifted its position in SiBone by 5.1% during the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after purchasing an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc lifted its position in SiBone by 17.1% during the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after purchasing an additional 175,000 shares during the period. 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.