SiBone (NASDAQ:SIBN) Price Target Raised to $27.00

SiBone (NASDAQ:SIBN) had its target price hoisted by Needham & Company LLC from $24.00 to $27.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also weighed in on SIBN. Truist Financial reduced their target price on SiBone from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Morgan Stanley raised their price target on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a research report on Monday, December 8th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

SiBone Stock Performance

SiBone stock opened at $20.25 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The firm has a market capitalization of $878.67 million, a P/E ratio of -39.71 and a beta of 0.76. SiBone has a 1-year low of $12.49 and a 1-year high of $20.27. The company’s 50-day moving average is $17.31 and its 200 day moving average is $16.86.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%.The firm had revenue of $48.66 million for the quarter, compared to analysts’ expectations of $46.67 million. Research analysts forecast that SiBone will post -0.78 EPS for the current year.

Insider Buying and Selling at SiBone

In other news, CEO Laura Francis sold 11,341 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.43, for a total value of $197,673.63. Following the completion of the sale, the chief executive officer owned 408,363 shares in the company, valued at approximately $7,117,767.09. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 3,460 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $17.43, for a total transaction of $60,307.80. Following the transaction, the chief financial officer owned 205,073 shares in the company, valued at approximately $3,574,422.39. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 147,128 shares of company stock worth $2,698,252. 4.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SiBone

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in SiBone by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company’s stock valued at $34,292,000 after purchasing an additional 35,349 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of SiBone by 82.8% in the 1st quarter. Invesco Ltd. now owns 31,448 shares of the company’s stock valued at $441,000 after buying an additional 14,245 shares in the last quarter. Nuveen LLC purchased a new position in shares of SiBone in the 1st quarter worth approximately $18,605,000. Russell Investments Group Ltd. raised its stake in shares of SiBone by 765.3% during the 1st quarter. Russell Investments Group Ltd. now owns 201,758 shares of the company’s stock worth $2,831,000 after acquiring an additional 178,442 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in SiBone by 11.1% during the first quarter. American Century Companies Inc. now owns 2,642,322 shares of the company’s stock valued at $37,072,000 after acquiring an additional 264,254 shares during the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SiBone

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.