Key Points
- SiBone CEO Laura Francis sold 14,957 shares on May 18 at an average price of $14.71, totaling about $220,017. The sale reduced her holdings by 2.89% and was made to cover tax withholding tied to vested equity awards.
- The company recently beat quarterly expectations, reporting a loss of $0.10 per share versus the expected loss of $0.17, with revenue of $52.59 million topping estimates of $51.16 million.
- Wall Street remains cautiously positive on SIBN, with six Buy ratings and one Sell rating, and a consensus price target of $23.00 despite some analysts lowering their targets.
SiBone (NASDAQ:SIBN - Get Free Report) SVP Michael Pisetsky sold 3,726 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $14.63, for a total value of $54,511.38. Following the transaction, the senior vice president directly owned 280,509 shares in the company, valued at approximately $4,103,846.67. The trade was a 1.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
SiBone Stock Performance
Shares of SIBN stock opened at $14.82 on Thursday. The stock's 50-day moving average is $13.36 and its two-hundred day moving average is $16.10. The firm has a market cap of $657.27 million, a price-to-earnings ratio of -38.00 and a beta of 0.67. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99.
SiBone (NASDAQ:SIBN - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million for the quarter, compared to analyst estimates of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. Analysts predict that SiBone will post -0.44 earnings per share for the current year.
Hedge Funds Weigh In On SiBone
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of SiBone by 8.7% during the first quarter. Bank of America Corp DE now owns 419,473 shares of the company's stock worth $5,298,000 after buying an additional 33,688 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of SiBone during the first quarter worth about $159,000. Quantinno Capital Management LP grew 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 buying an additional 10,848 shares during the last quarter. First Light Asset Management LLC boosted its holdings in SiBone by 6.4% in the 1st quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company's stock valued at $67,611,000 after purchasing an additional 320,286 shares in the last quarter. Finally, Granahan Investment Management LLC boosted its holdings in SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock valued at $21,965,000 after purchasing an additional 858,942 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on SIBN shares. TD Cowen dropped their price objective on SiBone from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Truist Financial reaffirmed a "buy" rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered SiBone from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.00.
Check Out Our Latest Research Report on SIBN
SiBone Company Profile
(
Get Free Report)
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.
Further Reading
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