Analysts Set SiBone (NASDAQ:SIBN) Target Price at $24.17

SiBone (NASDAQ:SIBN) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.1667.

Several equities research analysts recently weighed in on SIBN shares. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. TD Cowen lifted their price objective on shares of SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. UBS Group boosted their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial restated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th.

Insider Buying and Selling

In other SiBone news, SVP Michael Pisetsky sold 3,725 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $18.63, for a total transaction of $69,396.75. Following the transaction, the senior vice president owned 273,650 shares in the company, valued at $5,098,099.50. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were 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 in the company, valued at approximately $296,412.22. This represents a 55.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 165,231 shares of company stock worth $3,193,690 in the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SiBone by 4.5% in 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of SiBone during the first quarter worth approximately $225,000. Goldman Sachs Group Inc. raised its stake in shares of SiBone by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company’s stock valued at $5,328,000 after acquiring an additional 83,919 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of SiBone during the first quarter valued at approximately $1,818,000. Finally, Legal & General Group Plc raised its stake in shares of SiBone by 16.1% during the second quarter. Legal & General Group Plc now owns 42,403 shares of the company’s stock valued at $798,000 after acquiring an additional 5,888 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

Shares of SiBone stock opened at $18.50 on Thursday. The stock has a 50 day moving average of $18.12 and a 200 day moving average of $15.57. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The firm has a market cap of $820.48 million, a PE ratio of -54.41 and a beta of 0.70. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.06. The business had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. On average, research analysts expect that SiBone will post -0.4 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.