SiBone (NASDAQ:SIBN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

SiBone (NASDAQ:SIBN) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, 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 issued ratings on the stock in the last year is $24.6667.

Several research analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Morgan Stanley increased their price objective on shares of SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Needham & Company LLC lifted their target price on shares of SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Truist Financial restated a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of SiBone in a research note on Tuesday, February 24th. Finally, Canaccord Genuity Group upped their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th.

Insiders Place Their Bets

In other SiBone news, SVP Michael A. Pisetsky sold 20,756 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total value of $318,604.60. Following the completion of the transaction, the senior vice president owned 285,974 shares in the company, valued at $4,389,700.90. This represents a 6.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony J. Recupero sold 21,049 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total value of $324,154.60. Following the sale, the insider directly owned 243,418 shares of the company’s stock, valued at approximately $3,748,637.20. This represents a 7.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 227,653 shares of company stock valued at $3,848,102. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SiBone

Several institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd bought a new stake in SiBone in the fourth quarter worth about $29,000. Royal Bank of Canada grew its position in shares of SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after acquiring an additional 736 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of SiBone by 64,700.0% during 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 last quarter. State of Alaska Department of Revenue purchased a new stake in shares of SiBone during the 3rd quarter worth approximately $39,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of SiBone in the 4th quarter worth approximately $53,000. Institutional investors own 98.11% of the company’s stock.

SiBone Trading Up 1.7%

NASDAQ SIBN opened at $14.05 on Thursday. The company has a current ratio of 8.55, a quick ratio of 7.21 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $16.53 and a 200 day simple moving average of $16.77. SiBone has a 12 month low of $12.49 and a 12 month high of $21.89. The firm has a market capitalization of $620.59 million, a P/E ratio of -31.93 and a beta of 0.69.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The firm had revenue of $56.35 million for the quarter, compared to the consensus estimate of $56.26 million. On average, analysts predict that SiBone will post -0.78 EPS for the current fiscal 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.