SiBone (NASDAQ:SIBN) Stock Has Average Price Target of $24.17 According to Brokerages

SiBone (NASDAQ:SIBN) has earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.17.

SIBN has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Truist Financial reiterated a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a research report on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Finally, TD Cowen lifted their target price on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th.

Insider Transactions at SiBone

In other news, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $18.46, for a total transaction of $369,200.00. Following the completion of the sale, the director owned 16,057 shares of the company’s stock, valued at $296,412.22. This represents a 55.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Pisetsky sold 3,725 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $18.63, for a total transaction of $69,396.75. Following the sale, the senior vice president directly owned 273,650 shares of the company’s stock, valued at approximately $5,098,099.50. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 158,780 shares of company stock valued at $3,085,695 over the last 90 days. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of SiBone by 5.7% during the 1st quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock valued at $466,000 after purchasing an additional 1,991 shares in the last quarter. Diversified Trust Co grew its position in SiBone by 10.8% in the first quarter. Diversified Trust Co now owns 24,335 shares of the company’s stock worth $307,000 after buying an additional 2,375 shares during the last quarter. State of Wyoming lifted its holdings in shares of SiBone by 70.8% during the first quarter. State of Wyoming now owns 10,832 shares of the company’s stock valued at $137,000 after purchasing an additional 4,490 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock valued at $372,000 after buying an additional 10,848 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.

SiBone Trading Down 1.8%

Shares of SIBN opened at $18.08 on Monday. The stock’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $16.08. The firm has a market capitalization of $801.83 million, a PE ratio of -53.18 and a beta of 0.66. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20.

SiBone (NASDAQ:SIBN) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.06. The business had revenue of $56.01 million for the quarter, compared to analyst estimates of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, research analysts predict that SiBone will post -0.4 earnings per share for the current year.

About SiBone

SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company’s technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.

Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.