SiBone (NASDAQ:SIBN) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded SiBone (NASDAQ:SIBN) from a buy to a hold
• SiBone beat Q4 EPS estimates (reported ($0.04) vs. consensus ($0.13)) with revenue of $56.35M, but remains unprofitable (net margin -9.41%) and trades around $14.09 with a market cap of about $622M.
• Company insiders have been selling shares (167,697 shares sold in the last 90 days), even as institutional investors and hedge funds are reported to own roughly 98.11% of the stock.

SiBone (NASDAQ:SIBN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other research firms have also recently weighed in on SIBN. Weiss Ratings restated a "sell (d-)" rating on shares of SiBone in a report on Monday, December 29th. Truist Financial cut their price objective on shares of SiBone from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, TD Cowen lifted their price objective on shares of SiBone from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.00.

SiBone Price Performance

SiBone stock opened at $14.09 on Friday. The company has a market cap of $622.36 million, a price-to-earnings ratio of -32.02 and a beta of 0.77. The firm's fifty day moving average is $14.09 and its 200 day moving average is $16.32. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. SiBone has a 52-week low of $12.15 and a 52-week high of $21.89.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $56.35 million for the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. Sell-side analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Insider Activity

In other news, SVP Michael A. Pisetsky sold 20,756 shares of SiBone stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the transaction, the senior vice president directly owned 285,974 shares of the company's stock, valued at $4,389,700.90. The trade was a 6.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anshul Maheshwari sold 21,528 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the sale, the chief financial officer directly owned 266,466 shares of the company's stock, valued at approximately $4,095,582.42. The trade was a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 167,697 shares of company stock worth $2,551,086. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of SiBone

Institutional investors have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd acquired a new stake in shares of SiBone in the fourth quarter valued at about $29,000. Royal Bank of Canada grew its position in shares of SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company's stock valued at $29,000 after purchasing an additional 736 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of SiBone by 64,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company's stock worth $38,000 after buying an additional 1,941 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of SiBone during the third quarter worth $39,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of SiBone during the fourth quarter worth $53,000. Institutional investors and hedge funds own 98.11% of the company's stock.

About SiBone

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.

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