SiBone (NASDAQ:SIBN) Stock Has Average Target Price of $24.50 According to Analysts

Key Points

• Analysts hold a Moderate Buy consensus on SiBone, with six buy ratings and one sell rating. The average 12-month price target is $24.50, above the reported share price of $21.56.
• SiBone exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the expected $0.15 loss, while revenue of $56.01 million topped estimates of $55.34 million. Analysts project a full-year loss of $0.40 per share.
• Institutional investors own 98.11% of the company, led by First Light Asset Management, which increased its position by 51.8%. Meanwhile, insiders sold approximately $4.37 million of shares over the past 90 days.

Shares of SiBone (NASDAQ:SIBN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.50.

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on SiBone from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, October 14th. TD Cowen boosted their target price on SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. UBS Group upped their target price on SiBone from $24.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings raised SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th.

SiBone Stock Performance

SiBone stock opened at $21.56 on Friday. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $956.19 million, a P/E ratio of -63.41 and a beta of 0.66. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The firm has a 50-day moving average of $19.11 and a 200-day moving average of $16.79.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.06. The company had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. Sell-side analysts expect that SiBone will post -0.40 EPS for the current year.

Insider Buying and Selling at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $18.46, for a total value of $369,200.00. Following the completion of the transaction, the director directly owned 16,057 shares in the company, valued at approximately $296,412.22. This represents a 55.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anshul Maheshwari sold 11,636 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $20.11, for a total transaction of $233,999.96. Following the completion of the sale, the insider directly owned 223,284 shares of the company's stock, valued at approximately $4,490,241.24. This represents a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 224,968 shares of company stock valued at $4,368,118. 4.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SiBone

A number of institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC boosted its position in SiBone by 51.8% during the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company's stock valued at $132,649,000 after acquiring an additional 2,774,795 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of SiBone by 40.3% during the 2nd quarter. Squarepoint Ops LLC now owns 118,128 shares of the company's stock worth $1,928,000 after acquiring an additional 33,947 shares during the period. VELA Investment Management LLC grew its holdings in shares of SiBone by 7.4% during the 2nd quarter. VELA Investment Management LLC now owns 201,094 shares of the company's stock worth $3,282,000 after acquiring an additional 13,934 shares during the period. Corient Private Wealth LP grew its holdings in shares of SiBone by 119.6% during 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 during the period. Finally, Versant Capital Management Inc raised its position in shares of 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. 98.11% of the stock is owned by institutional investors.

SiBone Company Profile

SI-BONE, Inc NASDAQ: SIBN is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.

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