SiBone (NASDAQ:SIBN) Hits New 52-Week High – Here’s What Happened

SiBone (NASDAQ:SIBN) shares hit a new 52-week high during trading on Friday . The stock traded as high as $20.05 and last traded at $19.6060, with a volume of 309450 shares. The stock had previously closed at $18.68.

Wall Street Analysts Forecast Growth

SIBN has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of SiBone from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Cantor Fitzgerald set a $25.00 target price on shares of SiBone and gave the company an “overweight” rating in a research note on Monday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a report on Wednesday. Finally, Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

SiBone Stock Up 5.5%

The firm has a market capitalization of $855.50 million, a PE ratio of -38.66 and a beta of 0.81. The company has a fifty day moving average price of $15.51 and a 200-day moving average price of $16.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.62 and a current ratio of 7.97.

SiBone (NASDAQ:SIBN) last posted its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $48.66 million during the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. SiBone has set its FY 2025 guidance at EPS. As a group, analysts expect that SiBone will post -0.78 earnings per share for the current year.

Insider Activity

In related news, SVP Michael A. Pisetsky sold 3,328 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $17.41, for a total transaction of $57,940.48. Following the sale, the senior vice president owned 251,896 shares in the company, valued at approximately $4,385,509.36. This represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Dunn sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $18.95, for a total transaction of $1,516,000.00. Following the completion of the sale, the director owned 10,307 shares of the company’s stock, valued at $195,317.65. This trade represents a 88.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 125,428 shares of company stock worth $2,277,640. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On SiBone

Several hedge funds have recently bought and sold shares of SIBN. ANTIPODES PARTNERS Ltd purchased a new position in SiBone in the 1st quarter worth about $34,000. State of Alaska Department of Revenue acquired a new stake in shares of SiBone in the 3rd quarter worth $39,000. State of Wyoming purchased a new stake in shares of SiBone during the second quarter worth about $55,000. Virtus Advisers LLC acquired a new stake in SiBone in the 1st quarter worth approximately $58,000. Finally, Canada Pension Plan Investment Board purchased a new stake in SiBone during the 2nd quarter worth approximately $68,000. Institutional investors own 98.11% of the company’s stock.

About SiBone

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.