SI-Bone (NASDAQ:SIBN) Downgraded to “Sell” at BidaskClub

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SI-Bone (NASDAQ:SIBN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on SIBN. Zacks Investment Research cut SI-Bone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. SunTrust Banks began coverage on SI-Bone in a research report on Tuesday, January 7th. They issued a “buy” rating and a $27.00 price objective for the company. Cantor Fitzgerald began coverage on SI-Bone in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $27.00 price objective for the company. Finally, ValuEngine cut SI-Bone from a “buy” rating to a “hold” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. SI-Bone presently has an average rating of “Hold” and an average price target of $26.33.

SIBN opened at $20.61 on Friday. SI-Bone has a 1-year low of $14.08 and a 1-year high of $23.10. The company has a current ratio of 8.78, a quick ratio of 8.40 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $529.11 million, a price-to-earnings ratio of -14.21 and a beta of -0.44. The business has a 50 day moving average of $21.48 and a 200-day moving average of $19.11.

In related news, CFO Laura Francis sold 2,550 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.50, for a total value of $44,625.00. Following the completion of the transaction, the chief financial officer now directly owns 89,461 shares of the company’s stock, valued at $1,565,567.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $21.55, for a total value of $431,000.00. The disclosure for this sale can be found here. Insiders sold 66,204 shares of company stock valued at $1,355,351 over the last three months. 38.80% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of SIBN. Bank of Montreal Can lifted its position in SI-Bone by 48.5% in the fourth quarter. Bank of Montreal Can now owns 2,098 shares of the company’s stock worth $45,000 after purchasing an additional 685 shares during the period. Citigroup Inc. lifted its position in SI-Bone by 143.8% in the fourth quarter. Citigroup Inc. now owns 3,282 shares of the company’s stock worth $71,000 after purchasing an additional 1,936 shares during the period. Metropolitan Life Insurance Co NY bought a new position in SI-Bone in the third quarter worth $107,000. UBS Group AG lifted its position in SI-Bone by 70.9% in the fourth quarter. UBS Group AG now owns 19,995 shares of the company’s stock worth $430,000 after purchasing an additional 8,292 shares during the period. Finally, Barclays PLC lifted its position in SI-Bone by 16.2% in the fourth quarter. Barclays PLC now owns 22,352 shares of the company’s stock worth $481,000 after purchasing an additional 3,110 shares during the period. 51.11% of the stock is owned by hedge funds and other institutional investors.

SI-Bone Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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