SiBone (NASDAQ:SIBN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SiBone (NASDAQ:SIBN) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.6667.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. TD Cowen increased their target price 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. Needham & Company LLC boosted their price target on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Truist Financial restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of SiBone in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th.

Insider Activity

In other news, CEO Laura Francis sold 93,475 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the transaction, the chief executive officer directly owned 544,369 shares of the company’s stock, valued at $8,339,733.08. This trade represents a 14.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the transaction, the insider owned 243,418 shares of the company’s stock, valued at approximately $3,748,637.20. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 227,653 shares of company stock valued at $3,848,102. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC increased its position in shares of SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after buying an additional 3,115,001 shares during the period. Cadian Capital Management LP boosted its position in shares of SiBone by 96.8% in the fourth quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock valued at $23,094,000 after acquiring an additional 576,100 shares during the period. American Century Companies Inc. boosted its position in shares of SiBone by 22.5% in the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after acquiring an additional 521,683 shares during the period. Wellington Management Group LLP grew its stake in SiBone by 74.7% during the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after acquiring an additional 364,897 shares in the last quarter. Finally, Impax Asset Management Group plc grew its stake in SiBone by 48.2% during the third quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after acquiring an additional 333,249 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SiBone Stock Performance

NASDAQ:SIBN opened at $14.05 on Thursday. The company has a market capitalization of $620.59 million, a P/E ratio of -31.93 and a beta of 0.69. The business has a fifty day simple moving average of $16.53 and a two-hundred day simple moving average of $16.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. SiBone has a 1 year low of $12.49 and a 1 year high of $21.89.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $56.35 million for 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, analysts expect that SiBone will post -0.78 earnings per share for the current year.

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.