Truist Financial Issues Positive Forecast for SiBone (NASDAQ:SIBN) Stock Price

SiBone (NASDAQ:SIBN) had its price objective hoisted by Truist Financial from $21.00 to $23.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 16.66% from the company’s current price.

SIBN has been the subject of several other research reports. Canaccord Genuity Group upped their price target on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley upped their target price on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Needham & Company LLC lifted their price objective on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SiBone in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

SiBone Trading Up 3.0%

Shares of SIBN traded up $0.58 during midday trading on Thursday, hitting $19.72. The stock had a trading volume of 103,230 shares, compared to its average volume of 449,144. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. The firm has a market cap of $855.43 million, a P/E ratio of -38.65 and a beta of 0.76. SiBone has a fifty-two week low of $12.49 and a fifty-two week high of $20.05. The business has a 50-day simple moving average of $17.22 and a two-hundred day simple moving average of $16.84.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.11) earnings per share for the quarter, topping 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 company had revenue of $48.66 million during the quarter, compared to analysts’ expectations of $46.67 million. As a group, equities analysts forecast that SiBone will post -0.78 EPS for the current year.

Insider Activity

In related news, insider Anthony J. Recupero sold 3,833 shares of SiBone stock in a transaction on Monday, November 17th. The stock was sold at an average price of $17.44, for a total transaction of $66,847.52. Following the completion of the sale, the insider directly owned 268,144 shares of the company’s stock, valued at $4,676,431.36. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anshul Maheshwari sold 3,460 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.43, for a total value of $60,307.80. Following the completion of the transaction, the chief financial officer directly owned 205,073 shares in the company, valued at $3,574,422.39. The trade was a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 147,128 shares of company stock worth $2,698,252. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after purchasing an additional 1,053 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of SiBone by 0.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after buying an additional 1,968 shares during the period. Rhumbline Advisers increased its position in shares of SiBone by 3.6% in the 1st quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock valued at $838,000 after buying an additional 2,100 shares in the last quarter. Franklin Resources Inc. increased its position in shares of SiBone by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock valued at $427,000 after buying an additional 2,228 shares in the last quarter. Finally, EntryPoint Capital LLC raised its stake in SiBone by 21.5% during the 1st quarter. EntryPoint Capital LLC now owns 14,787 shares of the company’s stock worth $207,000 after buying an additional 2,613 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Company Profile

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.