SiBone (NASDAQ:SIBN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• SiBone has a consensus analyst rating of “Moderate Buy” from seven covering firms, with six buy ratings and one sell rating. The average 12-month price target is $23.00.
• The company recently reported quarterly earnings of -$0.10 per share, beating estimates of -$0.17, while revenue of $52.59 million also topped expectations. Analysts currently expect SiBone to post -$0.44 EPS for the full fiscal year.
• Insider selling has been notable, with directors Timothy E. Davis, Jr. and Jeffrey W. Dunn both selling shares in recent weeks. Despite that, institutional investors own 98.11% of the company’s stock.

SiBone (NASDAQ:SIBN - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.00.

A number of analysts recently commented on the company. Wall Street Zen cut SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. TD Cowen reduced their target price on shares of SiBone from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Truist Financial reaffirmed a "buy" rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of SiBone in a report on Thursday, July 2nd.

SiBone Price Performance

SIBN stock opened at $16.91 on Wednesday. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The stock's 50 day moving average price is $15.33 and its 200 day moving average price is $15.37. The firm has a market cap of $749.96 million, a P/E ratio of -43.36 and a beta of 0.67.

SiBone (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%.The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. On average, sell-side analysts expect that SiBone will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Timothy E. Davis, Jr. sold 3,500 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $14.14, for a total transaction of $49,490.00. Following the completion of the transaction, the director owned 65,722 shares of the company's stock, valued at approximately $929,309.08. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Dunn sold 3,575 shares of SiBone stock in a transaction on Friday, June 5th. The shares were sold at an average price of $15.25, for a total transaction of $54,518.75. Following the completion of the transaction, the director owned 16,057 shares in the company, valued at approximately $244,869.25. This trade represents a 18.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 36,326 shares of company stock valued at $545,661. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiBone

A number of large investors have recently modified their holdings of the stock. Hussman Strategic Advisors Inc. bought a new stake in shares of SiBone in the 4th quarter valued at approximately $1,656,000. UBS Group AG lifted its stake in SiBone by 570.2% during the fourth quarter. UBS Group AG now owns 104,731 shares of the company's stock worth $2,065,000 after purchasing an additional 89,105 shares during the last quarter. Impax Asset Management Group plc lifted its stake in SiBone by 17.1% during the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company's stock worth $23,664,000 after purchasing an additional 175,000 shares during the last quarter. HighMark Wealth Management LLC boosted its holdings in SiBone by 549.7% in the fourth quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company's stock worth $3,152,000 after purchasing an additional 135,232 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in SiBone by 142,828.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,792 shares of the company's stock worth $3,072,000 after purchasing an additional 155,683 shares during the period. Institutional investors and hedge funds own 98.11% of the company's stock.

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.

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