SiBone (NASDAQ:SIBN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of SiBone (NASDAQ:SIBN) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.00.

Several equities analysts have recently commented on SIBN shares. Needham & Company LLC boosted 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. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a research note on Monday. Morgan Stanley raised their price target on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Canaccord Genuity Group lifted their price target on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, Truist Financial increased their price objective on SiBone from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, December 18th.

SiBone Price Performance

Shares of SIBN opened at $19.72 on Friday. The business’s 50-day moving average is $18.23 and its 200-day moving average is $16.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 7.97 and a quick ratio of 6.62. The company has a market capitalization of $855.65 million, a price-to-earnings ratio of -38.67 and a beta of 0.76. SiBone has a fifty-two week low of $12.49 and a fifty-two week high of $21.07.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $48.66 million for the quarter, compared to the consensus estimate of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. Equities research analysts expect that SiBone will post -0.78 EPS for the current fiscal year.

Insider Activity at SiBone

In other news, CFO Anshul Maheshwari sold 18,542 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $20.15, for a total transaction of $373,621.30. Following the transaction, the chief financial officer owned 185,231 shares in the company, valued at approximately $3,732,404.65. This trade represents a 9.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laura Francis sold 11,341 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $17.43, for a total transaction of $197,673.63. Following the completion of the sale, the chief executive officer owned 408,363 shares of the company’s stock, valued at $7,117,767.09. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 175,520 shares of company stock worth $3,328,042 over the last quarter. 4.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SiBone by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock valued at $343,000 after acquiring an additional 1,053 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in SiBone by 0.8% during the third quarter. Tudor Investment Corp ET AL now owns 258,032 shares of the company’s stock valued at $3,798,000 after purchasing an additional 1,968 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of SiBone by 3.6% in the first quarter. Rhumbline Advisers now owns 59,721 shares of the company’s stock worth $838,000 after buying an additional 2,100 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of SiBone by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 29,018 shares of the company’s stock worth $427,000 after buying an additional 2,228 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of SiBone during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.