Brokerages Set SiBone (NASDAQ:SIBN) Target Price at $23.00

SiBone (NASDAQ:SIBN) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.00.

Several equities research analysts have weighed in on SIBN shares. Truist Financial restated a “buy” rating and issued a $18.00 price objective (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. TD Cowen reduced their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th.

Insider Buying and Selling

In other news, Director Mika Nishimura sold 4,100 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $13.83, for a total value of $56,703.00. Following the transaction, the director owned 32,716 shares of the company’s stock, valued at approximately $452,462.28. This trade represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Pisetsky sold 3,726 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $14.63, for a total transaction of $54,511.38. Following the completion of the transaction, the senior vice president directly owned 280,509 shares in the company, valued at $4,103,846.67. This trade represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 36,852 shares of company stock worth $523,018. 4.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after acquiring an additional 1,053 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in SiBone during the 1st quarter worth approximately $225,000. Goldman Sachs Group Inc. boosted its stake in SiBone by 28.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock worth $5,328,000 after acquiring an additional 83,919 shares during the last quarter. Jane Street Group LLC bought a new position in SiBone during the 1st quarter worth approximately $1,818,000. Finally, Legal & General Group Plc boosted its stake in SiBone by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock worth $798,000 after acquiring an additional 5,888 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

SiBone Trading Down 1.6%

Shares of SiBone stock opened at $13.87 on Tuesday. The stock has a market capitalization of $615.12 million, a P/E ratio of -35.56 and a beta of 0.67. The company has a quick ratio of 8.34, a current ratio of 9.99 and a debt-to-equity ratio of 0.20. The company has a 50-day simple moving average of $13.55 and a 200 day simple moving average of $16.03. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. Research analysts expect that SiBone will post -0.44 earnings per share 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.