SiBone (NASDAQ:SIBN) Upgraded at UBS Group

SiBone (NASDAQ:SIBN) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Truist Financial upped their price target on SiBone from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, July 16th. TD Cowen reduced their price objective on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, SiBone has an average rating of “Moderate Buy” and a consensus target price of $23.57.

SiBone Stock Performance

SIBN stock opened at $17.93 on Tuesday. The stock has a market capitalization of $795.20 million, a PE ratio of -45.97 and a beta of 0.67. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $15.16.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. As a group, research analysts forecast that SiBone will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey W. Dunn sold 3,575 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $15.25, for a total value of $54,518.75. Following the transaction, the director directly owned 16,057 shares in the company, valued at $244,869.25. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Michael A. Pisetsky sold 3,726 shares of SiBone stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the completion of the sale, the senior vice president directly owned 280,509 shares of the company’s stock, valued at $4,103,846.67. The trade was 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. Over the last three months, insiders sold 36,326 shares of company stock worth $545,661. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Large investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. purchased a new position in shares of SiBone in the fourth quarter worth approximately $1,656,000. UBS Group AG increased its holdings in SiBone by 570.2% during the fourth quarter. UBS Group AG now owns 104,731 shares of the company’s stock valued at $2,065,000 after buying an additional 89,105 shares during the last quarter. Impax Asset Management Group plc raised its position 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 acquiring an additional 175,000 shares during the period. HighMark Wealth Management LLC raised its position in SiBone by 549.7% in the fourth quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company’s stock worth $3,152,000 after acquiring an additional 135,232 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of SiBone during the 4th quarter worth $838,000. 98.11% of the stock is currently owned by institutional investors.

About SiBone

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.