SiBone (NASDAQ:SIBN) Reaches New 12-Month High Following Analyst Upgrade

Shares of SiBone (NASDAQ:SIBN) reached a new 52-week high during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $21.00 to $23.00. Truist Financial currently has a buy rating on the stock. SiBone traded as high as $20.27 and last traded at $20.25, with a volume of 731079 shares trading hands. The stock had previously closed at $19.14.

A number of other analysts have also recently commented on the company. Morgan Stanley upped their price target on shares of SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Needham & Company LLC upped their target price on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday. Canaccord Genuity Group lifted their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Insider Transactions at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 18,759 shares of SiBone stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $19.33, for a total transaction of $362,611.47. Following the completion of the sale, the director owned 110,115 shares of the company’s stock, valued at approximately $2,128,522.95. The trade was a 14.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laura Francis sold 5,411 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $17.70, for a total value of $95,774.70. Following the completion of the sale, the chief executive officer owned 351,319 shares in the company, valued at approximately $6,218,346.30. This represents a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 147,128 shares of company stock worth $2,698,252. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Several hedge funds have recently added to or reduced their stakes in SIBN. Vanguard Group Inc. increased its holdings in shares of SiBone by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company’s stock valued at $34,292,000 after purchasing an additional 35,349 shares in the last quarter. Invesco Ltd. grew its position in SiBone by 82.8% during the first quarter. Invesco Ltd. now owns 31,448 shares of the company’s stock valued at $441,000 after buying an additional 14,245 shares during the period. Nuveen LLC purchased a new position in SiBone in the first quarter valued at $18,605,000. Russell Investments Group Ltd. raised its holdings in SiBone by 765.3% in the 1st quarter. Russell Investments Group Ltd. now owns 201,758 shares of the company’s stock worth $2,831,000 after purchasing an additional 178,442 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of SiBone by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,642,322 shares of the company’s stock worth $37,072,000 after buying an additional 264,254 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

SiBone Stock Performance

The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21. The firm has a market cap of $878.65 million, a PE ratio of -39.71 and a beta of 0.76. The firm has a 50-day moving average price of $17.22 and a two-hundred day moving average price of $16.84.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. The firm had revenue of $48.66 million during the quarter, compared to analysts’ expectations of $46.67 million. SiBone had a negative return on equity of 12.86% and a negative net margin of 11.24%. Research analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

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.