SiBone (NASDAQ:SIBN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SiBone (NASDAQ:SIBN) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

SIBN has been the subject of a number of other reports. UBS Group increased their price objective on SiBone from $25.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Citigroup reaffirmed a “market outperform” rating on shares of SiBone in a research report on Tuesday, November 3rd. Needham & Company LLC cut their target price on SiBone from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. TD Cowen upped their price target on SiBone from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

SiBone Stock Up 5.6%

Shares of NASDAQ SIBN opened at $25.60 on Friday. The company has a 50 day simple moving average of $19.94 and a 200 day simple moving average of $16.64. The firm has a market cap of $1.15 billion, a PE ratio of -82.58 and a beta of 0.64. SiBone has a 1 year low of $11.48 and a 1 year high of $25.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.58 and a quick ratio of 7.55.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, November 2nd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. SiBone had a negative net margin of 6.20% and a negative return on equity of 7.57%. The firm had revenue of $55.70 million for the quarter, compared to analyst estimates of $55.31 million. On average, research analysts forecast that SiBone will post -0.34 EPS for the current year.

Insider Activity

In related news, Director Jeffrey Dunn sold 20,000 shares of SiBone stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.89, for a total transaction of $417,800.00. Following the completion of the transaction, the director owned 16,057 shares of the company’s stock, valued at $335,430.73. This trade represents a 55.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anshul Maheshwari sold 3,247 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $25.00, for a total transaction of $81,175.00. Following the completion of the transaction, the insider owned 211,250 shares in the company, valued at approximately $5,281,250. The trade was a 1.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 372,859 shares of company stock valued at $8,034,168. Company insiders own 4.00% of the company’s stock.

Institutional Trading of SiBone

A number of large investors have recently bought and sold shares of SIBN. First Light Asset Management LLC raised its position 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 boosted its position in shares of SiBone by 97.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of SiBone by 113.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company’s stock valued at $14,228,000 after purchasing an additional 598,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of SiBone by 41.8% during the 1st 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 grew its stake in SiBone by 101.6% during the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company’s stock worth $5,969,000 after purchasing an additional 238,219 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Company Profile

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.