SiBone (NASDAQ:SIBN) Receives $24.29 Average Price Target from Analysts

SiBone (NASDAQ:SIBN) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $24.1667.

SIBN has been the subject of a number of research reports. Weiss Ratings cut shares of SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. UBS Group upped their price target on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Truist Financial restated a “buy” rating and set a $23.00 price objective (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Finally, TD Cowen boosted their price objective on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th.

Insider Activity at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $18.46, for a total value of $369,200.00. Following the transaction, the director directly owned 16,057 shares of the company’s stock, valued at $296,412.22. This represents a 55.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Laura Francis sold 14,957 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the transaction, the chief executive officer directly owned 503,444 shares in the company, valued at approximately $7,405,661.24. This represents a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 55,989 shares of company stock valued at $910,429 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of hedge funds and other institutional investors have recently modified their holdings of the company. First Light Asset Management LLC grew its stake in shares of SiBone by 6.4% in the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after acquiring an additional 320,286 shares in the last quarter. Vanguard Group Inc. raised its stake in SiBone by 0.5% in the 4th 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 in the last quarter. Granahan Investment Management LLC boosted its holdings in SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after purchasing an additional 858,942 shares during the period. Nuveen LLC boosted its holdings in SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after purchasing an additional 69,229 shares during the period. Finally, Impax Asset Management Group plc grew its position in shares of SiBone by 17.1% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

SiBone Trading Down 0.1%

Shares of SiBone stock opened at $18.93 on Friday. The business has a fifty day simple moving average of $17.07 and a two-hundred day simple moving average of $15.24. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a market capitalization of $839.55 million, a price-to-earnings ratio of -55.68 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.15 and a quick ratio of 7.55.

SiBone (NASDAQ:SIBN) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The firm had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $55.34 million. Research analysts forecast that SiBone will post -0.4 EPS for the current 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.