SiBone (NASDAQ:SIBN) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate SiBone “Moderate Buy”: Six of seven covering firms recommend buying the stock, while one rates it a sell. The average 12-month price target is $24.17, above the reported $18.59 opening price.
• SiBone exceeded quarterly expectations, reporting a loss of $0.09 per share versus the $0.15 consensus loss and revenue of $56.01 million versus estimates of $55.34 million. Analysts expect a full-year loss of approximately $0.40 per share.
• Institutional ownership is high at 98.11%: Several major investors increased their positions, including First Light Asset Management, which boosted its holdings by 51.8%. Insiders have sold 165,231 shares worth about $3.19 million over the past 90 days.

Shares of SiBone (NASDAQ:SIBN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.17.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 20th. Truist Financial restated a "buy" rating and issued a $23.00 price target (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. UBS Group upped their price objective on shares of SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, TD Cowen raised their target price on shares of SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, August 4th.

SiBone Price Performance

NASDAQ:SIBN opened at $18.59 on Monday. The firm has a market capitalization of $824.47 million, a price-to-earnings ratio of -54.68 and a beta of 0.70. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The stock's 50 day moving average price is $18.49 and its two-hundred day moving average price is $15.92. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share 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 analyst estimates of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. Equities research analysts expect that SiBone will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other SiBone news, insider Anshul Maheshwari sold 11,636 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $20.11, for a total value of $233,999.96. Following the sale, the insider owned 223,284 shares in the company, valued at $4,490,241.24. This trade represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael A. Pisetsky sold 3,725 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 273,650 shares in the company, valued at approximately $5,098,099.50. This trade represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 165,231 shares of company stock valued at $3,193,690. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC boosted its holdings in shares of SiBone by 51.8% in the second quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company's stock worth $132,649,000 after acquiring an additional 2,774,795 shares during the period. Granahan Investment Management LLC lifted its holdings in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock worth $21,965,000 after acquiring an additional 858,942 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its stake in SiBone by 113.3% during the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company's stock worth $14,228,000 after purchasing an additional 598,300 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of SiBone by 41.8% during the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company's stock worth $7,816,000 after acquiring an additional 182,465 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in SiBone by 101.6% in the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company's stock worth $5,969,000 after purchasing an additional 238,219 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company's stock.

About SiBone

SI-BONE, Inc NASDAQ: SIBN is a medical device company focused on developing and commercializing solutions for disorders of the sacroiliac joint and pelvic region. Its products are designed to support minimally invasive procedures that stabilize the sacroiliac joint and address sacroiliac joint dysfunction, degeneration, and related conditions.

The company's portfolio includes the iFuse Implant System, iFuse-3D implants, iFuse-TORQ implants, and the iFuse Bedrock Granite system for sacroiliac joint fusion and pelvic fixation.

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