SiBone’s (SIBN) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of SiBone (NASDAQ:SIBN) in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a $23.00 price target on the stock, up from their previous price target of $21.00.

Several other research analysts have also recently issued reports on SIBN. UBS Group lifted their target price on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen increased their price target on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, SiBone currently has an average rating of “Moderate Buy” and a consensus price target of $24.29.

SiBone Price Performance

Shares of NASDAQ SIBN opened at $18.14 on Tuesday. The stock has a market cap of $804.51 million, a price-to-earnings ratio of -53.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.15. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The firm’s 50-day simple moving average is $16.53 and its 200 day simple moving average is $15.14.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $56.01 million during the quarter, compared to analyst estimates of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, research analysts anticipate that SiBone will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SiBone news, Director Timothy E. Davis, Jr. sold 3,780 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total value of $54,696.60. Following the transaction, the director owned 69,222 shares of the company’s stock, valued at approximately $1,001,642.34. The trade was a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laura Francis sold 14,957 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at approximately $7,405,661.24. This represents a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 55,989 shares of company stock valued at $910,429 over the last quarter. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC grew its position in SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after buying an additional 320,286 shares during the period. Vanguard Group Inc. increased its holdings in SiBone by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after buying an additional 11,566 shares during the last quarter. Granahan Investment Management LLC raised its position in SiBone by 97.6% in the first quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock worth $21,965,000 after acquiring an additional 858,942 shares during the period. Nuveen LLC raised its position in SiBone by 5.1% in the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after acquiring an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after acquiring an additional 175,000 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors.

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.