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

Key Points

• SiBone's stock rating was downgraded from "buy" to "hold" by Wall Street Zen in a recent research note.
• Cantor Fitzgerald set a price objective of $25.00, while Truist Financial raised their target from $20.00 to $22.00, maintaining a "buy" rating.
• Insider transactions included the CFO and CEO selling shares, contributing to a total of 58,218 shares sold by insiders in the last ninety days.

Wall Street Zen cut shares of SiBone (NASDAQ:SIBN - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

SIBN has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of SiBone from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and set a $25.00 price target on shares of SiBone in a research report on Tuesday, August 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of SiBone in a research report on Tuesday, May 6th.

SiBone Stock Performance

NASDAQ SIBN traded down $0.18 on Friday, reaching $15.22. 308,645 shares of the company's stock traded hands, compared to its average volume of 431,358. The stock has a 50 day moving average price of $17.61 and a 200-day moving average price of $16.61. The firm has a market cap of $656.76 million, a price-to-earnings ratio of -27.19 and a beta of 0.91. SiBone has a fifty-two week low of $11.70 and a fifty-two week high of $20.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.00 and a current ratio of 8.38.

SiBone (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05. The business had revenue of $48.63 million during the quarter, compared to the consensus estimate of $48.12 million. SiBone had a negative net margin of 12.83% and a negative return on equity of 14.20%. Equities research analysts predict that SiBone will post -0.78 EPS for the current fiscal year.

Insider Activity at SiBone

In related news, Director Jeffrey W. Dunn sold 3,377 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $19.05, for a total transaction of $64,331.85. Following the completion of the sale, the director owned 17,354 shares of the company's stock, valued at approximately $330,593.70. This represents a 16.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Gordon Freund sold 12,132 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $15.99, for a total transaction of $193,990.68. Following the sale, the director directly owned 91,767 shares of the company's stock, valued at approximately $1,467,354.33. This represents a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,413 shares of company stock worth $1,221,524 in the last 90 days. 3.90% of the stock is owned by insiders.

Institutional Trading of SiBone

Several hedge funds have recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in shares of SiBone in the 2nd quarter valued at approximately $290,000. Legal & General Group Plc grew its stake in shares of SiBone by 16.1% in the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock valued at $798,000 after buying an additional 5,888 shares during the period. Calamos Advisors LLC grew its stake in shares of SiBone by 14.9% in the 2nd quarter. Calamos Advisors LLC now owns 75,203 shares of the company's stock valued at $1,415,000 after buying an additional 9,741 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SiBone in the 2nd quarter valued at approximately $1,403,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of SiBone during the 2nd quarter worth approximately $526,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

SiBone Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.