Zacks: Brokerages Expect SI-BONE, Inc. (NASDAQ:SIBN) Will Post Quarterly Sales of $25.30 Million

Brokerages predict that SI-BONE, Inc. (NASDAQ:SIBNGet Rating) will report sales of $25.30 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SI-BONE’s earnings, with estimates ranging from $24.42 million to $26.17 million. SI-BONE reported sales of $22.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that SI-BONE will report full year sales of $107.44 million for the current year, with estimates ranging from $107.14 million to $107.74 million. For the next year, analysts forecast that the firm will post sales of $130.78 million, with estimates ranging from $130.66 million to $130.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow SI-BONE.

SI-BONE (NASDAQ:SIBNGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.09). SI-BONE had a negative net margin of 62.75% and a negative return on equity of 38.10%. During the same period in the previous year, the company posted ($0.37) earnings per share.

SIBN has been the topic of several research analyst reports. Canaccord Genuity Group dropped their price objective on SI-BONE from $32.00 to $25.00 in a research note on Tuesday. 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 dropped their target price on SI-BONE from $43.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, January 18th. Morgan Stanley dropped their target price on SI-BONE from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 1st. Finally, Zacks Investment Research upgraded SI-BONE from a “sell” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, May 4th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE has a consensus rating of “Buy” and a consensus target price of $31.56.

In related news, SVP Michael A. Pisetsky sold 1,994 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $20.38, for a total value of $40,637.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey W. Dunn sold 1,474 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $19.92, for a total value of $29,362.08. Following the completion of the transaction, the director now directly owns 152,285 shares in the company, valued at approximately $3,033,517.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,946 shares of company stock worth $344,255. Insiders own 7.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. boosted its position in SI-BONE by 2.7% during the first quarter. Brown Advisory Inc. now owns 3,172,975 shares of the company’s stock valued at $71,703,000 after buying an additional 82,189 shares during the period. BlackRock Inc. boosted its position in SI-BONE by 12.7% during the fourth quarter. BlackRock Inc. now owns 2,699,798 shares of the company’s stock valued at $59,962,000 after buying an additional 304,050 shares during the period. Champlain Investment Partners LLC purchased a new stake in SI-BONE during the fourth quarter valued at about $43,762,000. American Century Companies Inc. boosted its position in SI-BONE by 309.1% during the third quarter. American Century Companies Inc. now owns 1,007,009 shares of the company’s stock valued at $21,570,000 after buying an additional 760,836 shares during the period. Finally, Morgan Stanley boosted its position in SI-BONE by 25.9% during the third quarter. Morgan Stanley now owns 774,519 shares of the company’s stock valued at $16,589,000 after buying an additional 159,357 shares during the period. Institutional investors and hedge funds own 99.36% of the company’s stock.

SI-BONE stock opened at $12.35 on Thursday. SI-BONE has a 12 month low of $12.16 and a 12 month high of $34.38. The company has a current ratio of 10.41, a quick ratio of 9.73 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $20.32 and its 200 day simple moving average is $20.80. The company has a market cap of $418.47 million, a price-to-earnings ratio of -7.26 and a beta of 1.40.

SI-BONE Company Profile (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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