SiBone (NASDAQ:SIBN) Upgraded at TD Cowen

TD Cowen upgraded shares of SiBone (NASDAQ:SIBN) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Needham & Company LLC lifted their price target on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Morgan Stanley increased their price objective on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Truist Financial raised their target price on SiBone from $21.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, Canaccord Genuity Group lifted their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, SiBone has a consensus rating of “Moderate Buy” and an average price target of $24.33.

SiBone Stock Down 1.1%

Shares of NASDAQ:SIBN opened at $16.55 on Tuesday. The business’s 50 day simple moving average is $18.99 and its two-hundred day simple moving average is $17.01. The firm has a market cap of $718.10 million, a P/E ratio of -32.45 and a beta of 0.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97. SiBone has a 52-week low of $12.49 and a 52-week high of $21.89.

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

Insider Buying and Selling at SiBone

In other SiBone news, SVP Michael A. Pisetsky sold 3,460 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $19.62, for a total value of $67,885.20. Following the transaction, the senior vice president owned 228,436 shares of the company’s stock, valued at approximately $4,481,914.32. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $21.28, for a total value of $425,600.00. Following the sale, the director directly owned 80,115 shares of the company’s stock, valued at approximately $1,704,847.20. This represents a 19.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 207,886 shares of company stock valued at $3,996,367 in the last ninety days. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in SiBone in the 3rd quarter worth approximately $39,000. State of Wyoming purchased a new stake in shares of SiBone during the second quarter worth $55,000. Canada Pension Plan Investment Board bought a new position in shares of SiBone in the second quarter worth $68,000. Quarry LP grew its position in shares of SiBone by 862.6% in the third quarter. Quarry LP now owns 4,861 shares of the company’s stock valued at $72,000 after purchasing an additional 4,356 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of SiBone by 198.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock valued at $92,000 after purchasing an additional 3,258 shares in the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

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.