SiBone (NASDAQ:SIBN) Posts Earnings Results, Beats Estimates By $0.07 EPS

SiBone (NASDAQ:SIBN) posted its earnings results on Monday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07, FiscalAI reports. The firm had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.

SiBone Price Performance

Shares of SIBN stock traded down $0.61 during mid-day trading on Monday, reaching $11.66. The stock had a trading volume of 1,745,464 shares, compared to its average volume of 625,006. The company has a market cap of $515.89 million, a P/E ratio of -26.50 and a beta of 0.67. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The business has a 50-day simple moving average of $13.56 and a 200 day simple moving average of $16.19. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20.

Insider Activity

In other SiBone news, SVP Michael A. Pisetsky sold 20,756 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the transaction, the senior vice president directly owned 285,974 shares in the company, valued at approximately $4,389,700.90. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 21,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the transaction, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at approximately $4,095,582.42. This trade represents a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 167,697 shares of company stock worth $2,549,984 in the last three months. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Several institutional investors and hedge funds have recently made changes to their positions in SIBN. Royal Bank of Canada lifted its position 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 lifted its position in shares of SiBone by 64,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after acquiring an additional 1,941 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of SiBone in the fourth quarter valued at $53,000. State of Wyoming purchased a new stake in shares of SiBone in the second quarter valued at $55,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of SiBone in the second quarter valued at $68,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SIBN shares. TD Cowen boosted their target price on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Truist Financial dropped their target price on SiBone from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, SiBone presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.