SiBone (NASDAQ:SIBN) Stock Rated “Moderate Buy” by Sell-Side Analysts

SiBone (NASDAQ:SIBN) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $24.17.

SIBN has been the topic of several recent analyst reports. TD Cowen raised their target price on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Truist Financial restated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a report on Tuesday, August 4th. Finally, UBS Group raised their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th.

Insider Activity at SiBone

In other SiBone news, CEO Laura Francis sold 51,884 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $19.46, for a total value of $1,009,662.64. Following the completion of the sale, the chief executive officer directly owned 321,386 shares in the company, valued at $6,254,171.56. This trade represents a 13.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael Pisetsky sold 3,725 shares of SiBone stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $18.63, for a total value of $69,396.75. Following the sale, the senior vice president owned 273,650 shares in the company, valued at $5,098,099.50. This represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 158,780 shares of company stock valued at $3,085,695 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

A number of hedge funds have recently modified their holdings of the business. First Light Asset Management LLC increased its stake in shares of SiBone by 51.8% in the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock worth $132,649,000 after acquiring an additional 2,774,795 shares in the last quarter. Granahan Investment Management LLC grew its holdings 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 purchasing an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY grew its holdings in SiBone by 113.3% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock worth $14,228,000 after purchasing an additional 598,300 shares during the period. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 182,465 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock valued at $5,969,000 after purchasing an additional 238,219 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

SIBN opened at $18.08 on Monday. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $18.68 and its 200-day moving average price is $16.10. The company has a market cap of $801.85 million, a P/E ratio of -53.18 and a beta of 0.66.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%.The company had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $55.34 million. On average, equities analysts expect that SiBone will post -0.4 EPS for the current year.

SiBone Company Profile

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.