Truist Financial Lowers SiBone (NASDAQ:SIBN) Price Target to $20.00

Key Points

• Truist Financial cut its price target on SiBone from $24 to $20 but kept a "buy" rating, implying roughly a 37% upside from the current stock price (~$14.56).
• Analyst sentiment remains mostly positive — six analysts rate SIBN a Buy and one a Sell, with an average target of $24 (MarketBeat labels the consensus a "Moderate Buy") and some firms issuing targets up to $27.
• Insider selling has been notable: the CEO sold 93,475 shares and insiders sold 167,697 shares (~$2.55M) last quarter, leaving insiders with about 3.9% ownership.

SiBone (NASDAQ:SIBN - Get Free Report) had its price target decreased by equities research analysts at Truist Financial from $24.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 37.36% from the stock's current price.

Several other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SiBone in a research report on Monday, December 29th. Wall Street Zen raised SiBone from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. TD Cowen upped their price objective on SiBone from $21.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 24th. Canaccord Genuity Group upped their price objective on SiBone from $26.00 to $27.00 and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Finally, Needham & Company LLC upped their price objective on SiBone from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, SiBone has an average rating of "Moderate Buy" and an average target price of $24.00.

SiBone Stock Up 0.9%

SIBN traded up $0.13 on Wednesday, hitting $14.56. 102,816 shares of the company were exchanged, compared to its average volume of 613,430. SiBone has a twelve month low of $12.15 and a twelve month high of $21.89. The company has a market cap of $643.12 million, a price-to-earnings ratio of -33.09 and a beta of 0.77. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $16.35.

SiBone (NASDAQ:SIBN - Get Free Report) last released its earnings results on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to analysts' expectations of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. On average, equities analysts predict that SiBone will post -0.78 earnings per share for the current year.

Insider Transactions at SiBone

In related news, Director Mika Nishimura sold 4,100 shares of the company's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $13.83, for a total value of $56,703.00. Following the completion of the sale, the director directly owned 32,716 shares of the company's stock, valued at $452,462.28. This represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laura Francis sold 93,475 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the sale, the chief executive officer directly owned 544,369 shares of the company's stock, valued at approximately $8,339,733.08. This trade represents a 14.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 167,697 shares of company stock worth $2,551,086. Insiders own 3.90% of the company's stock.

Institutional Trading of SiBone

A number of large investors have recently made changes to their positions in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of SiBone by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company's stock valued at $343,000 after purchasing an additional 1,053 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SiBone in the 1st quarter valued at about $225,000. Goldman Sachs Group Inc. boosted its position in shares of SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock valued at $5,328,000 after purchasing an additional 83,919 shares during the period. Jane Street Group LLC purchased a new stake in SiBone during the 1st quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc raised its stake in SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company's stock valued at $798,000 after acquiring an additional 5,888 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

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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