SiBone (NASDAQ:SIBN) Upgraded at TD Cowen

SiBone (NASDAQ:SIBN) was upgraded by research analysts at TD Cowen to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently commented on SIBN. Truist Financial boosted their price target on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Canaccord Genuity Group boosted their price target on shares of SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Needham & Company LLC upped their price target on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Morgan Stanley lifted their price objective on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.33.

SiBone Stock Down 0.6%

Shares of SIBN opened at $17.03 on Tuesday. The company has a current ratio of 7.97, a quick ratio of 6.62 and a debt-to-equity ratio of 0.21. SiBone has a 12 month low of $12.49 and a 12 month high of $21.89. The stock’s 50 day moving average is $19.07 and its two-hundred day moving average is $17.02. The firm has a market cap of $738.93 million, a P/E ratio of -33.39 and a beta of 0.69.

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

Insider Activity

In other SiBone news, SVP Michael A. Pisetsky sold 3,460 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $19.62, for a total transaction of $67,885.20. Following the completion of the transaction, the senior vice president owned 228,436 shares of the company’s stock, valued at $4,481,914.32. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Laura Francis sold 5,411 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $17.70, for a total transaction of $95,774.70. Following the completion of the transaction, the chief executive officer owned 351,319 shares in the company, valued at approximately $6,218,346.30. This represents a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 207,886 shares of company stock worth $3,996,367. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SiBone

A number of hedge funds and other institutional investors have recently bought and sold shares of SIBN. Palumbo Wealth Management LLC lifted its position in shares of SiBone by 95.3% during the fourth quarter. Palumbo Wealth Management LLC now owns 41,955 shares of the company’s stock worth $827,000 after purchasing an additional 20,470 shares in the last quarter. Perpetual Ltd purchased a new stake in SiBone during the 4th quarter worth approximately $587,000. SG Americas Securities LLC acquired a new stake in SiBone during the 4th quarter worth approximately $392,000. Assenagon Asset Management S.A. grew its stake in shares of SiBone by 0.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock worth $4,437,000 after acquiring an additional 997 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in shares of SiBone by 0.8% during the third quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock worth $3,798,000 after acquiring an additional 1,968 shares during the period. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.