SiBone (NASDAQ:SIBN) Price Target Cut to $20.00 by Analysts at Truist Financial

SiBone (NASDAQ:SIBN) had its price objective trimmed by Truist Financial from $24.00 to $20.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on SIBN. TD Cowen upped their price objective on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Needham & Company LLC increased their price target on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Canaccord Genuity Group increased their price target on shares of SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Wall Street Zen upgraded shares of SiBone from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Six 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.com, SiBone has an average rating of “Moderate Buy” and an average price target of $24.00.

SiBone Price Performance

Shares of SIBN opened at $14.49 on Wednesday. The stock has a market cap of $640.02 million, a PE ratio of -32.93 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. SiBone has a fifty-two week low of $12.15 and a fifty-two week high of $21.89. The firm’s 50-day simple moving average is $14.16 and its two-hundred day simple moving average is $16.34.

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

Insider Activity

In related news, insider Anthony J. Recupero sold 21,049 shares of the firm’s stock in a transaction that occurred 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 owned 243,418 shares in the company, valued at approximately $3,748,637.20. This trade represents a 7.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Pisetsky sold 20,756 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.35, for a total transaction of $318,604.60. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 167,697 shares of company stock valued at $2,551,086. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its holdings in SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares during the last quarter. American Century Companies Inc. boosted 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 worth $41,777,000 after purchasing an additional 521,683 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SiBone by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares during the last quarter. Nuveen LLC boosted its holdings in SiBone by 5.1% in the fourth quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after purchasing an additional 175,000 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

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.