SiBone (NASDAQ:SIBN) Upgraded by Wall Street Zen to Buy Rating

SiBone (NASDAQ:SIBN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of SiBone in a report on Tuesday, February 24th. Canaccord Genuity Group boosted their price target on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Morgan Stanley upped their price target on SiBone from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Needham & Company LLC raised their price objective on SiBone from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Finally, TD Cowen lifted their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, SiBone currently has an average rating of “Moderate Buy” and an average target price of $24.67.

SiBone Price Performance

Shares of NASDAQ SIBN opened at $12.29 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. SiBone has a one year low of $12.29 and a one year high of $21.89. The firm has a market capitalization of $542.85 million, a P/E ratio of -27.93 and a beta of 0.69. The company’s fifty day moving average is $15.02 and its two-hundred day moving average is $16.47.

SiBone (NASDAQ:SIBN) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%. The business had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. Analysts forecast that SiBone will post -0.78 EPS for the current fiscal year.

Insider Activity at SiBone

In other SiBone news, CFO Anshul Maheshwari sold 21,528 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total value of $330,885.36. Following the sale, the chief financial officer owned 266,466 shares of the company’s stock, valued at $4,095,582.42. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey W. Dunn sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $21.28, for a total transaction of $425,600.00. Following the transaction, the director directly owned 80,115 shares of the company’s stock, valued at approximately $1,704,847.20. This trade represents a 19.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,611 shares of company stock valued at $3,136,244 in the last quarter. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

A number of large investors have recently bought and sold shares of the stock. First Light Asset Management LLC lifted its position in shares of SiBone by 162.4% in the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock valued at $99,249,000 after acquiring an additional 3,115,001 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of SiBone by 22.5% during the third quarter. American Century Companies Inc. now owns 2,838,107 shares of the company’s stock valued at $41,777,000 after acquiring an additional 521,683 shares during the last quarter. Vanguard Group Inc. increased its position in SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares in the last quarter. Nuveen LLC increased its position in SiBone by 5.1% during the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after purchasing an additional 69,229 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in SiBone by 17.1% in the 4th quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock valued at $23,664,000 after purchasing an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

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.