Shares of SI-Bone Inc (NASDAQ:SIBN) traded up 6.8% on Wednesday following a stronger than expected earnings report. The company traded as high as $18.67 and last traded at $18.31, 146,153 shares traded hands during mid-day trading. An increase of 25% from the average session volume of 116,687 shares. The stock had previously closed at $17.15.
The company reported ($0.35) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.05. The company had revenue of $16.32 million during the quarter.
A number of research analysts have recently commented on the company. ValuEngine upgraded SI-Bone from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research raised SI-Bone from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. SI-Bone has a consensus rating of “Buy” and a consensus price target of $24.75.
In related news, insider Scott A. Yerby sold 30,376 shares of SI-Bone stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $20.00, for a total transaction of $607,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO W Carlton Reckling sold 15,000 shares of SI-Bone stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $20.00, for a total value of $300,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,861 shares of company stock valued at $1,862,320. Insiders own 38.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SIBN. BlackRock Inc. bought a new position in SI-Bone in the 4th quarter worth about $15,835,000. Citigroup Inc. acquired a new stake in SI-Bone in the 4th quarter valued at about $46,000. Northern Trust Corp acquired a new stake in SI-Bone in the 4th quarter valued at about $2,109,000. Geode Capital Management LLC acquired a new stake in SI-Bone in the 4th quarter valued at about $1,972,000. Finally, Bank of America Corp DE acquired a new stake in SI-Bone in the 4th quarter valued at about $683,000. 39.24% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $434.77 million and a P/E ratio of -25.79. The firm has a 50 day moving average price of $18.95. The company has a quick ratio of 12.70, a current ratio of 13.06 and a debt-to-equity ratio of 0.47.
SI-Bone Company Profile (NASDAQ:SIBN)
SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.
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