Truist Financial Reiterates Buy Rating for SiBone (NASDAQ:SIBN)

SiBone (NASDAQ:SIBN)‘s stock had its “buy” rating reaffirmed by Truist Financial in a report released on Tuesday,Benzinga reports. They currently have a $18.00 price objective on the stock, down from their prior price objective of $20.00. Truist Financial’s target price suggests a potential upside of 35.53% from the company’s previous close.

Other analysts have also issued research reports about the company. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. TD Cowen restated a “buy” rating on shares of SiBone in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SiBone has an average rating of “Moderate Buy” and a consensus target price of $23.67.

SiBone Trading Up 14.4%

Shares of SIBN stock opened at $13.28 on Tuesday. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $13.40 and a two-hundred day moving average price of $16.14. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The firm has a market cap of $587.55 million, a P/E ratio of -30.12 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The firm had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. Equities analysts anticipate that SiBone will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other SiBone news, CFO Anshul Maheshwari sold 3,318 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $12.87, for a total value of $42,702.66. Following the completion of the transaction, the chief financial officer owned 263,148 shares in the company, valued at approximately $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mika Nishimura sold 4,100 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $13.83, for a total transaction of $56,703.00. Following the completion of the sale, the director owned 32,716 shares in the company, valued at approximately $452,462.28. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 167,697 shares of company stock valued at $2,549,984 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SiBone

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of SiBone by 41.8% during the first quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company’s stock valued at $7,816,000 after acquiring an additional 182,465 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of SiBone by 5.7% during the 1st quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock valued at $466,000 after purchasing an additional 1,991 shares during the last quarter. Principal Financial Group Inc. raised its position in SiBone by 22.6% in the first quarter. Principal Financial Group Inc. now owns 70,027 shares of the company’s stock worth $884,000 after acquiring an additional 12,896 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in SiBone during the first quarter valued at $204,000. Finally, Peregrine Capital Management LLC grew its stake in shares of SiBone by 13.0% during the 1st quarter. Peregrine Capital Management LLC now owns 428,061 shares of the company’s stock valued at $5,406,000 after acquiring an additional 49,270 shares during the period. 98.11% of the stock is owned by hedge funds and other 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.