SiBone (NASDAQ:SIBN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of SiBone (NASDAQ:SIBN) from a buy rating to a hold rating in a research note released on Saturday.

SIBN has been the subject of several other research reports. Truist Financial cut their price objective on shares of SiBone from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Finally, TD Cowen boosted their target price on shares of SiBone from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

SiBone Price Performance

SiBone stock opened at $14.32 on Friday. The stock’s fifty day moving average price is $14.07 and its two-hundred day moving average price is $16.34. SiBone has a one year low of $12.15 and a one year high of $21.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. The firm has a market cap of $632.51 million, a PE ratio of -32.54 and a beta of 0.77.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. As a group, research analysts expect that SiBone will post -0.52 EPS for the current fiscal year.

Insider Activity at SiBone

In other news, CFO Anshul Maheshwari sold 21,528 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $15.37, for a total transaction of $330,885.36. Following the completion of the transaction, the chief financial officer owned 266,466 shares of the company’s stock, valued at approximately $4,095,582.42. The trade was a 7.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura Francis sold 93,475 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $15.32, for a total value of $1,432,037.00. Following the completion of the sale, the chief executive officer directly owned 544,369 shares in the company, valued at $8,339,733.08. This trade represents a 14.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 167,697 shares of company stock worth $2,551,086 in the last three months. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On SiBone

A number of hedge funds have recently made changes to their positions in SIBN. Royal Bank of Canada increased its position in SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock worth $29,000 after purchasing an additional 736 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in SiBone by 0.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,001 shares of the company’s stock valued at $4,437,000 after buying an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SiBone by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after buying an additional 1,053 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of SiBone by 42.3% during the fourth quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after buying an additional 1,061 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of SiBone by 4.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock worth $733,000 after buying an additional 1,459 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

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.