SiBone (NASDAQ:SIBN) Given Consensus Rating of “Moderate Buy” by Brokerages

SiBone (NASDAQ:SIBN) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.3333.

Several analysts have commented on the company. Truist Financial upped their price objective on SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Morgan Stanley boosted their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Needham & Company LLC lifted their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th.

Insider Buying and Selling at SiBone

In related news, Director Jeffrey W. Dunn sold 80,000 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $18.95, for a total transaction of $1,516,000.00. Following the completion of the transaction, the director directly owned 10,307 shares of the company’s stock, valued at $195,317.65. This represents a 88.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael A. Pisetsky sold 19,600 shares of SiBone stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $20.15, for a total value of $394,940.00. Following the completion of the sale, the senior vice president directly owned 231,896 shares in the company, valued at $4,672,704.40. This represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 207,886 shares of company stock valued at $3,996,367. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SIBN. American Century Companies Inc. lifted its holdings in SiBone by 22.5% in the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after acquiring an additional 521,683 shares during the period. Vanguard Group Inc. grew its stake in shares of SiBone by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,489,989 shares of the company’s stock worth $36,653,000 after purchasing an additional 41,449 shares during the period. First Light Asset Management LLC increased its holdings in shares of SiBone by 9.5% in the 3rd quarter. First Light Asset Management LLC now owns 1,917,903 shares of the company’s stock valued at $28,232,000 after purchasing an additional 166,902 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of SiBone by 48.2% in the 3rd quarter. Impax Asset Management Group plc now owns 1,025,010 shares of the company’s stock valued at $15,088,000 after purchasing an additional 333,249 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of SiBone by 74.7% in the third quarter. Wellington Management Group LLP now owns 853,266 shares of the company’s stock valued at $12,560,000 after purchasing an additional 364,897 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

SiBone Stock Down 0.6%

Shares of NASDAQ:SIBN opened at $17.03 on Wednesday. SiBone has a 1-year low of $12.49 and a 1-year high of $21.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The stock has a market cap of $738.93 million, a P/E ratio of -33.39 and a beta of 0.69. The firm has a fifty day moving average price of $19.07 and a 200 day moving average price of $17.02.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The business had revenue of $48.66 million during the quarter, compared to analysts’ expectations of $46.67 million. Sell-side analysts predict that SiBone will post -0.78 EPS for the current year.

SiBone Company Profile

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.