SiBone (NASDAQ:SIBN) Announces Earnings Results, Beats Estimates By $0.09 EPS

SiBone (NASDAQ:SIBN) announced its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09, FiscalAI reports. The company had revenue of $56.35 million for the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%.

SiBone Stock Performance

NASDAQ:SIBN traded up $0.14 on Monday, hitting $15.62. The stock had a trading volume of 461,758 shares, compared to its average volume of 535,516. The business’s 50-day simple moving average is $17.84 and its two-hundred day simple moving average is $16.84. The stock has a market cap of $677.75 million, a price-to-earnings ratio of -30.63 and a beta of 0.69. SiBone has a 52-week low of $12.49 and a 52-week high of $21.89. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21.

Insider Transactions at SiBone

In other news, CEO Laura Francis sold 93,475 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the sale, the chief executive officer owned 544,369 shares of the company’s stock, valued at $8,339,733.08. The trade was a 14.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony J. Recupero sold 21,049 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.40, for a total value of $324,154.60. Following the completion of the sale, the insider owned 243,418 shares of the company’s stock, valued at $3,748,637.20. This trade represents a 7.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 247,753 shares of company stock worth $4,236,702. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiBone

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in SiBone by 64,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after acquiring an additional 1,941 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in SiBone during the 4th quarter worth approximately $53,000. State of Wyoming purchased a new position in SiBone during the second quarter valued at approximately $55,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of SiBone in the second quarter worth approximately $68,000. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. TD Cowen upgraded shares of SiBone to a “strong-buy” rating in a report on Tuesday, January 27th. Morgan Stanley upped their price objective on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Needham & Company LLC lifted their target price on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. Finally, Canaccord Genuity Group increased their price objective on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

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.