SiBone (NASDAQ:SIBN) Upgraded by UBS Group to “Strong-Buy” Rating

UBS Group upgraded shares of SiBone (NASDAQ:SIBN) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other research analysts have also commented on the company. TD Cowen decreased their target price on SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Truist Financial upped their target price on shares of SiBone from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Weiss Ratings raised SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.57.

SiBone Trading Up 5.2%

NASDAQ SIBN opened at $17.93 on Tuesday. The company has a market capitalization of $795.20 million, a price-to-earnings ratio of -45.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 9.99 and a quick ratio of 8.34. SiBone has a 12 month low of $11.48 and a 12 month high of $21.89. The company’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $15.16.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. As a group, research analysts predict that SiBone will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Anshul Maheshwari sold 3,317 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $16.77, for a total value of $55,626.09. Following the completion of the sale, the chief financial officer owned 256,560 shares in the company, valued at $4,302,511.20. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Laura Francis sold 14,957 shares of SiBone stock in a transaction on Monday, May 18th. The shares were sold at an average price of $14.71, for a total value of $220,017.47. Following the transaction, the chief executive officer owned 503,444 shares in the company, valued at $7,405,661.24. This represents a 2.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 36,326 shares of company stock worth $545,661. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its stake in SiBone by 102.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares in the last quarter. Bank of America Corp DE lifted its position in shares of SiBone by 8.7% in the first quarter. Bank of America Corp DE now owns 419,473 shares of the company’s stock worth $5,298,000 after purchasing an additional 33,688 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of SiBone in the first quarter worth approximately $159,000. Quantinno Capital Management LP boosted its holdings in shares of SiBone by 58.2% during the first quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock worth $372,000 after purchasing an additional 10,848 shares during the period. Finally, First Light Asset Management LLC boosted its holdings in shares of SiBone by 6.4% during the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock worth $67,611,000 after purchasing an additional 320,286 shares during the period. 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.