SiBone (NASDAQ:SIBN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• SiBone has a “Moderate Buy” consensus rating from seven analysts, with six buys and one sell. The average 12-month price target is $24.17, above the reported share price of $19.16.
• Recent analysts raised their targets, including TD Cowen to $20, Truist Financial to $23, and UBS Group to $25, while maintaining buy ratings.
• SiBone beat quarterly expectations, reporting an adjusted loss of $0.09 per share versus the $0.15 estimate and revenue of $56.01 million versus $55.34 million expected. Institutional investors own 98.11% of the company, while insiders have sold shares worth about $2.87 million over the past three months.

Shares of SiBone (NASDAQ:SIBN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.1667.

A number of brokerages recently weighed in on SIBN. TD Cowen lifted their price target on SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 20th. Truist Financial reaffirmed a "buy" rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Finally, UBS Group raised their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th.

Insider Activity

In related news, SVP Michael A. Pisetsky sold 3,725 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $18.63, for a total value of $69,396.75. Following the completion of the transaction, the senior vice president owned 273,650 shares of the company's stock, valued at approximately $5,098,099.50. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Laura Francis sold 25,972 shares of SiBone stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $20.12, for a total transaction of $522,556.64. Following the transaction, the chief executive officer owned 291,491 shares in the company, valued at approximately $5,864,798.92. The trade was a 8.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 148,806 shares of company stock worth $2,870,009 over the last three months. 4.00% of the stock is owned by insiders.

Institutional Trading of SiBone

Several hedge funds and other institutional investors have recently modified their holdings of SIBN. VELA Investment Management LLC grew its holdings in shares of SiBone by 7.4% during the second quarter. VELA Investment Management LLC now owns 201,094 shares of the company's stock valued at $3,282,000 after buying an additional 13,934 shares in the last quarter. Corient Private Wealth LP lifted its stake in SiBone by 119.6% in the 2nd quarter. Corient Private Wealth LP now owns 43,946 shares of the company's stock worth $717,000 after acquiring an additional 23,938 shares in the last quarter. California State Teachers Retirement System lifted its stake in SiBone by 1,751.6% in the 2nd quarter. California State Teachers Retirement System now owns 726,942 shares of the company's stock worth $11,864,000 after acquiring an additional 687,681 shares in the last quarter. Versant Capital Management Inc lifted its stake in SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company's stock worth $29,000 after acquiring an additional 887 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in SiBone by 8.7% during the 1st quarter. Bank of America Corp DE now owns 419,473 shares of the company's stock worth $5,298,000 after acquiring an additional 33,688 shares during the period. Institutional investors and hedge funds own 98.11% of the company's stock.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $19.16 on Thursday. SiBone has a one year low of $11.48 and a one year high of $21.89. The stock has a fifty day moving average of $18.05 and a 200-day moving average of $15.53. The company has a market capitalization of $849.75 million, a PE ratio of -56.35 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to analysts' expectations of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, equities analysts anticipate that SiBone will post -0.4 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source