SiBone (NASDAQ:SIBN) Trading Up 5.4% on Analyst Upgrade

SiBone (NASDAQ:SIBN) rose 5.4% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $24.00 to $27.00. Needham & Company LLC currently has a buy rating on the stock. SiBone traded as high as $19.30 and last traded at $19.41. Approximately 68,171 shares were traded during trading, a decline of 85% from the average daily volume of 448,675 shares. The stock had previously closed at $18.41.

Several other analysts also recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research report on Monday, December 8th. Morgan Stanley boosted their target price on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Truist Financial dropped their target price on shares of SiBone from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling

In related news, SVP Michael A. Pisetsky sold 3,328 shares of SiBone stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $17.41, for a total transaction of $57,940.48. Following the sale, the senior vice president directly owned 251,896 shares in the company, valued at $4,385,509.36. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,833 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $17.44, for a total transaction of $66,847.52. Following the completion of the transaction, the insider owned 268,144 shares of the company’s stock, valued at approximately $4,676,431.36. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,128 shares of company stock valued at $2,698,252 over the last three months. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

A number of hedge funds have recently made changes to their positions in SIBN. Harbor Capital Advisors Inc. lifted its holdings in SiBone by 7.7% in the second quarter. Harbor Capital Advisors Inc. now owns 573,705 shares of the company’s stock valued at $10,797,000 after buying an additional 40,993 shares during the period. Palumbo Wealth Management LLC bought a new position in shares of SiBone in the 2nd quarter worth about $577,000. Goldman Sachs Group Inc. lifted its stake in shares of SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after purchasing an additional 83,919 shares during the period. Divisadero Street Capital Management LP boosted its position in shares of SiBone by 17.8% during the 2nd quarter. Divisadero Street Capital Management LP now owns 339,791 shares of the company’s stock valued at $6,395,000 after purchasing an additional 51,363 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in SiBone by 31.1% during the first quarter. Trexquant Investment LP now owns 115,114 shares of the company’s stock worth $1,615,000 after purchasing an additional 27,331 shares during the period. 98.11% of the stock is currently owned by institutional investors.

SiBone Stock Performance

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 stock has a fifty day simple moving average of $17.06 and a two-hundred day simple moving average of $16.82. The firm has a market capitalization of $843.09 million, a P/E ratio of -38.10 and a beta of 0.76.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $48.66 million during the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. On average, research analysts predict that SiBone will post -0.78 EPS for the current year.

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.