SiBone (NASDAQ:SIBN) Earns Buy Rating from Truist Financial

SiBone (NASDAQ:SIBN)‘s stock had its “buy” rating reissued by stock analysts at Truist Financial in a research note issued on Tuesday,Benzinga reports. They currently have a $23.00 price target on the stock, up from their prior price target of $21.00. Truist Financial’s price objective would indicate a potential upside of 25.48% from the company’s current price.

SIBN has been the subject of several other research reports. Weiss Ratings upgraded SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 21st. UBS Group reiterated a “buy” rating and set a $25.00 price objective on shares of SiBone in a research note on Tuesday. Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, TD Cowen boosted their target price on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.29.

SiBone Price Performance

NASDAQ SIBN traded down $0.12 on Tuesday, reaching $18.33. The company’s stock had a trading volume of 499,179 shares, compared to its average volume of 628,362. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20. The firm has a market cap of $812.94 million, a PE ratio of -46.88 and a beta of 0.66. The business has a 50-day moving average price of $16.30 and a 200 day moving average price of $15.12.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The firm had revenue of $56.01 million during the quarter, compared to analysts’ expectations of $55.34 million. Sell-side analysts expect that SiBone will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other SiBone news, CEO Laura Francis sold 14,957 shares of SiBone stock in a transaction on Monday, May 18th. The stock was sold at an average price of $14.71, for a total value of $220,017.47. Following the completion of the transaction, the chief executive officer owned 503,444 shares in the company, valued at approximately $7,405,661.24. The trade was a 2.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy E. Davis, Jr. sold 3,780 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $14.47, for a total value of $54,696.60. Following the completion of the transaction, the director directly owned 69,222 shares in the company, valued at approximately $1,001,642.34. This represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,989 shares of company stock worth $541,229 over the last ninety days. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. bought a new stake in shares of SiBone during the fourth quarter worth $1,656,000. UBS Group AG boosted its holdings in SiBone by 570.2% in the fourth quarter. UBS Group AG now owns 104,731 shares of the company’s stock valued at $2,065,000 after acquiring an additional 89,105 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in SiBone by 17.1% in the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after acquiring an additional 175,000 shares during the last quarter. HighMark Wealth Management LLC increased its position in SiBone by 549.7% in the fourth quarter. HighMark Wealth Management LLC now owns 159,832 shares of the company’s stock worth $3,152,000 after purchasing an additional 135,232 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in SiBone in the fourth quarter worth about $838,000. 98.11% of the stock is owned by 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.