SI-BONE (NASDAQ:SIBN) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

SI-BONE (NASDAQ:SIBNGet Rating) announced its quarterly earnings data on Monday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.09), MarketWatch Earnings reports. SI-BONE had a negative return on equity of 38.10% and a negative net margin of 62.75%. During the same period in the prior year, the firm posted ($0.37) earnings per share. SI-BONE updated its FY 2022 guidance to EPS.

NASDAQ SIBN opened at $15.09 on Tuesday. The company’s 50-day moving average is $20.71. The stock has a market cap of $511.31 million, a price-to-earnings ratio of -8.88 and a beta of 1.40. SI-BONE has a fifty-two week low of $14.35 and a fifty-two week high of $34.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.41 and a quick ratio of 9.73.

SIBN has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of SI-BONE in a research report on Monday, January 10th. Cantor Fitzgerald assumed coverage on SI-BONE in a research report on Thursday, April 7th. They set an “overweight” rating and a $34.00 target price on the stock. Bank of America lowered their price objective on SI-BONE from $43.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, January 18th. Canaccord Genuity Group lowered their price objective on SI-BONE from $32.00 to $25.00 in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on SI-BONE from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, March 1st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.56.

In other news, CEO Laura Francis sold 4,777 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $20.38, for a total transaction of $97,355.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Pisetsky sold 1,994 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $20.38, for a total value of $40,637.72. The disclosure for this sale can be found here. Insiders have sold a total of 16,946 shares of company stock valued at $344,255 in the last quarter. Company insiders own 7.00% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of SI-BONE by 12.7% during the 4th quarter. BlackRock Inc. now owns 2,699,798 shares of the company’s stock valued at $59,962,000 after acquiring an additional 304,050 shares during the period. Morgan Stanley raised its position in shares of SI-BONE by 38.2% during the 2nd quarter. Morgan Stanley now owns 615,162 shares of the company’s stock valued at $19,358,000 after buying an additional 170,153 shares during the period. Geode Capital Management LLC raised its position in shares of SI-BONE by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 507,729 shares of the company’s stock valued at $11,276,000 after buying an additional 5,117 shares during the period. Bank of New York Mellon Corp raised its position in SI-BONE by 143.3% in the third quarter. Bank of New York Mellon Corp now owns 219,847 shares of the company’s stock valued at $4,709,000 after purchasing an additional 129,489 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SI-BONE by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 202,207 shares of the company’s stock worth $4,492,000 after acquiring an additional 2,189 shares during the period. Hedge funds and other institutional investors own 99.36% of the company’s stock.

About SI-BONE (Get Rating)

SI-BONE, Inc, a medical device company, develops implantable devices used to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers iFuse, a minimally invasive surgical implant system to address sacroiliac joint dysfunction and degeneration, adult deformity, and pelvic ring traumatic fractures.

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Earnings History for SI-BONE (NASDAQ:SIBN)

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