SiBone (NASDAQ:SIBN) Releases Earnings Results, Beats Expectations By $0.06 EPS

SiBone (NASDAQ:SIBN) announced its earnings results on Monday. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06, FiscalAI reports. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%.The business had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million.

SiBone Stock Up 3.9%

SIBN stock traded up $0.69 during mid-day trading on Monday, hitting $18.45. The stock had a trading volume of 764,705 shares, compared to its average volume of 627,209. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The company has a fifty day moving average of $16.23 and a 200 day moving average of $15.12. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $818.24 million, a price-to-earnings ratio of -47.31 and a beta of 0.67.

Analyst Ratings Changes

SIBN has been the topic of several recent analyst reports. TD Cowen cut their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. UBS Group assumed coverage on shares of SiBone in a research report on Tuesday, July 28th. They issued a “buy” rating and a $24.00 target price on the stock. Wall Street Zen downgraded shares of SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Truist Financial raised their price objective on shares of SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.57.

Insider Buying and Selling at SiBone

In related news, CEO Laura Francis sold 14,957 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the sale, the chief executive officer owned 503,444 shares of the company’s stock, valued at approximately $7,405,661.24. The trade was a 2.89% decrease in their position. The sale was disclosed in a 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, SVP Michael A. Pisetsky sold 3,134 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $16.71, for a total transaction of $52,369.14. Following the transaction, the senior vice president directly owned 277,375 shares in the company, valued at approximately $4,634,936.25. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 35,989 shares of company stock worth $541,229 over the last quarter. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in 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 buying an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in SiBone by 64,700.0% during 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 during the period. Kemnay Advisory Services Inc. bought a new stake in SiBone during the fourth quarter valued at about $53,000. State of Wyoming acquired a new stake in shares of SiBone in the second quarter valued at about $55,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of SiBone in the second quarter worth about $68,000. Institutional investors own 98.11% of the company’s stock.

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.