SiBone (NASDAQ:SIBN) SVP Michael Pisetsky Sells 29,665 Shares of Stock

Key Points

• SiBone SVP Michael Pisetsky sold 29,665 shares at an average price of $22.11, totaling approximately $655,893. The transaction reduced his direct ownership by 15.28% to 164,444 shares.
• SiBone reported quarterly revenue of $55.70 million and an adjusted loss of $0.08 per share, beating analysts’ estimates of $55.31 million in revenue and a $0.13 loss.
• Analyst sentiment remains favorable, with six Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $24.50; institutional investors own 98.11% of the stock.

SiBone (NASDAQ:SIBN - Get Free Report) SVP Michael Pisetsky sold 29,665 shares of the company's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $22.11, for a total value of $655,893.15. Following the transaction, the senior vice president directly owned 164,444 shares of the company's stock, valued at approximately $3,635,856.84. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SiBone Price Performance

Shares of NASDAQ:SIBN traded down $1.01 during midday trading on Monday, reaching $20.22. 1,371,299 shares of the company's stock traded hands, compared to its average volume of 616,959. SiBone has a 1 year low of $11.48 and a 1 year high of $22.95. The company has a market cap of $896.74 million, a P/E ratio of -59.47 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. The company has a fifty day simple moving average of $19.41 and a two-hundred day simple moving average of $16.44.

SiBone (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. The firm had revenue of $55.70 million for the quarter, compared to analysts' expectations of $55.31 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. Equities analysts predict that SiBone will post -0.40 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on SIBN shares. Truist Financial boosted their target price on shares of SiBone from $23.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, October 14th. UBS Group upped their price target 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. Weiss Ratings raised shares of SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 20th. Finally, TD Cowen lifted their price objective on SiBone from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, SiBone presently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC lifted its stake 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 buying an additional 2,774,795 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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 during the last quarter. Renaissance Technologies LLC grew its stake in SiBone by 101.6% during the 1st quarter. Renaissance Technologies LLC now owns 472,619 shares of the company's stock valued at $5,969,000 after acquiring an additional 238,219 shares in the last quarter. Squarepoint Ops LLC grew its stake in SiBone by 40.3% during the 2nd quarter. Squarepoint Ops LLC now owns 118,128 shares of the company's stock valued at $1,928,000 after acquiring an additional 33,947 shares in the last quarter. Finally, Granahan Investment Management LLC grew its stake in SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock valued at $21,965,000 after acquiring an additional 858,942 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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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