SiBone (NASDAQ:SIBN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

SiBone (NASDAQ:SIBN) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.6667.

SIBN has been the topic of several research analyst reports. 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. TD Cowen lifted their price objective on SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Canaccord Genuity Group boosted their target price on SiBone from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research report on Monday, December 29th. Finally, 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.

Insider Transactions at SiBone

In related news, Director Jeffrey W. Dunn sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $21.28, for a total value of $425,600.00. Following the transaction, the director owned 80,115 shares in the company, valued at approximately $1,704,847.20. This represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony J. Recupero sold 21,049 shares of SiBone stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.40, for a total transaction of $324,154.60. Following the completion of the sale, the insider owned 243,418 shares of the company’s stock, valued at $3,748,637.20. This trade represents a 7.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 231,753 shares of company stock valued at $3,904,805 in the last ninety days. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SiBone

Several institutional investors and hedge funds have recently modified their holdings of SIBN. ANTIPODES PARTNERS Ltd acquired a new position in SiBone during the fourth quarter worth $29,000. Royal Bank of Canada lifted its position in shares of SiBone by 98.5% in the fourth quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after buying an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of SiBone by 64,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock worth $38,000 after acquiring an additional 1,941 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of SiBone during the 3rd quarter worth about $39,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of SiBone during the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

SiBone Price Performance

Shares of NASDAQ:SIBN opened at $12.87 on Thursday. The company’s fifty day moving average is $16.13 and its two-hundred day moving average is $16.70. The company has a market cap of $568.47 million, a P/E ratio of -29.25 and a beta of 0.69. SiBone has a 12-month low of $12.49 and a 12-month high of $21.89. The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The business had revenue of $56.35 million during the quarter, compared to analyst estimates of $56.26 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. Equities analysts expect that SiBone will post -0.78 earnings per share 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.