SI-BONE (NASDAQ:SIBN) Cut to Sell at Zacks Investment Research

SI-BONE (NASDAQ:SIBNGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “SI-BONE Inc. is a medical device company which developed the iFuse Implant System(R) for minimally invasive surgical treatment of the sacroiliac joint dysfunction. SI-BONE Inc. is based in Santa Clara, California. “

SIBN has been the topic of several other reports. Canaccord Genuity Group cut their target price on shares of SI-BONE from $32.00 to $25.00 in a research report on Tuesday. Cantor Fitzgerald started coverage on shares of SI-BONE in a research note on Thursday, April 7th. They issued an “overweight” rating and a $34.00 price objective for the company. Bank of America lowered their price objective on shares of SI-BONE from $43.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, January 18th. Finally, Morgan Stanley lowered their price objective on shares of SI-BONE from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Tuesday, March 1st. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $31.56.

NASDAQ:SIBN opened at $12.05 on Friday. The firm’s 50 day simple moving average is $20.32 and its 200 day simple moving average is $20.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 10.41 and a quick ratio of 9.73. SI-BONE has a one year low of $11.92 and a one year high of $34.38. The company has a market cap of $408.25 million, a PE ratio of -6.51 and a beta of 1.40.

SI-BONE (NASDAQ:SIBNGet Rating) last posted its earnings results 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 return on equity of 42.85% and a negative net margin of 67.00%. During the same quarter last year, the company earned ($0.37) EPS. Equities research analysts expect that SI-BONE will post -1.84 EPS for the current year.

In other SI-BONE news, insider Anthony J. Recupero sold 3,321 shares of SI-BONE stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $20.38, for a total transaction of $67,681.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Pisetsky sold 1,994 shares of SI-BONE stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $20.38, for a total transaction 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 90 days. 7.00% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of SIBN. Maverick Capital Ltd. bought a new stake in SI-BONE in the 3rd quarter valued at about $66,000. Royal Bank of Canada increased its position in shares of SI-BONE by 52.3% during the third quarter. Royal Bank of Canada now owns 3,913 shares of the company’s stock valued at $83,000 after buying an additional 1,343 shares during the period. Citigroup Inc. increased its position in shares of SI-BONE by 126.1% during the third quarter. Citigroup Inc. now owns 5,515 shares of the company’s stock valued at $118,000 after buying an additional 3,076 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of SI-BONE by 393.1% during the third quarter. BNP Paribas Arbitrage SA now owns 5,991 shares of the company’s stock valued at $128,000 after buying an additional 4,776 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of SI-BONE during the fourth quarter valued at about $204,000. 99.36% of the stock is currently owned by institutional investors.

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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