SiBone (NASDAQ:SIBN) Receives $23.00 Consensus Price Target from Brokerages

SiBone (NASDAQ:SIBN) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.50.

Several equities analysts have recently weighed in on SIBN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of SiBone in a report on Thursday, July 2nd. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. TD Cowen reduced their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Truist Financial increased their target price on SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday.

SiBone Price Performance

SIBN opened at $17.38 on Wednesday. The stock has a market capitalization of $770.80 million, a price-to-earnings ratio of -44.56 and a beta of 0.67. The firm has a 50 day moving average price of $15.61 and a 200-day moving average price of $15.31. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. Equities research analysts forecast that SiBone will post -0.44 earnings per share for the current year.

Insider Activity

In other news, CFO Anshul Maheshwari sold 3,317 shares of the company’s stock in a transaction dated 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 owned 256,560 shares of the company’s stock, valued at $4,302,511.20. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy E. Davis, Jr. sold 3,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $14.14, for a total transaction of $49,490.00. Following the completion of the transaction, the director owned 65,722 shares in the company, valued at $929,309.08. This trade represents a 5.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 36,326 shares of company stock worth $545,661. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIBN. ANTIPODES PARTNERS Ltd purchased a new position in shares of SiBone during the 4th quarter worth $29,000. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 887 shares in the last quarter. Royal Bank of Canada increased its stake in shares of SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after purchasing an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd raised 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 purchasing an additional 1,941 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in SiBone in the 4th quarter worth $53,000. 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.