SiBone (NASDAQ:SIBN) Releases Earnings Results, Beats Estimates By $0.09 EPS

SiBone (NASDAQ:SIBN) issued its earnings results on Monday. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09, FiscalAI reports. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. The company had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million.

SiBone Price Performance

Shares of NASDAQ SIBN traded up $0.14 during midday trading on Monday, reaching $15.62. 461,758 shares of the stock traded hands, compared to its average volume of 535,516. The company’s 50 day moving average is $17.84 and its 200 day moving average is $16.84. SiBone has a one year low of $12.49 and a one year high of $21.89. 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 stock has a market capitalization of $677.75 million, a PE ratio of -30.63 and a beta of 0.69.

Insider Activity at SiBone

In other SiBone news, CEO Laura Francis sold 93,475 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the completion of the transaction, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. This trade represents a 14.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anshul Maheshwari sold 21,528 shares of SiBone stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the transaction, the chief financial officer directly owned 266,466 shares of the company’s stock, valued at $4,095,582.42. The trade was a 7.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 247,753 shares of company stock valued at $4,236,702 over the last quarter. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SiBone

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of SiBone by 18.5% during the 4th quarter. Invesco Ltd. now owns 55,715 shares of the company’s stock valued at $1,099,000 after purchasing an additional 8,706 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its stake in SiBone by 579.2% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 105,365 shares of the company’s stock worth $2,078,000 after buying an additional 89,851 shares during the period. Tudor Investment Corp ET AL increased its position in SiBone by 0.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 259,589 shares of the company’s stock valued at $5,119,000 after acquiring an additional 1,557 shares during the last quarter. Man Group plc bought a new position in SiBone during the fourth quarter valued at $965,000. Finally, Inspire Investing LLC purchased a new stake in shares of SiBone in the fourth quarter valued at $1,246,000. 98.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SIBN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. TD Cowen raised SiBone to a “strong-buy” rating in a research note on Tuesday, January 27th. Canaccord Genuity Group upped their price target on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Truist Financial increased their price objective on shares of SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Needham & Company LLC lifted their price objective on shares of SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.33.

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.