Anshul Maheshwari Sells 3,317 Shares of SiBone (NASDAQ:SIBN) Stock

SiBone (NASDAQ:SIBN) CFO Anshul Maheshwari sold 3,317 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $16.77, for a total transaction of $55,626.09. Following the completion of the sale, the chief financial officer directly owned 256,560 shares in the company, valued at $4,302,511.20. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

SiBone Stock Down 2.1%

NASDAQ:SIBN opened at $17.30 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34. The company’s fifty day moving average price is $14.87 and its 200-day moving average price is $15.48. SiBone has a 1-year low of $11.48 and a 1-year high of $21.89. The firm has a market capitalization of $767.25 million, a P/E ratio of -44.36 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. As a group, equities research analysts anticipate that SiBone will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SIBN. ANTIPODES PARTNERS Ltd purchased a new position in shares of SiBone during the 4th quarter valued at approximately $29,000. Versant Capital Management Inc increased its holdings in SiBone by 102.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock worth $29,000 after acquiring an additional 887 shares in the last quarter. Royal Bank of Canada raised its position in SiBone by 98.5% during the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after acquiring an additional 736 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in SiBone by 64,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in SiBone during the fourth quarter valued at $53,000. 98.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen downgraded SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a report on Thursday, July 2nd. TD Cowen lowered their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.