Key Points
- Insider sale: SiBone Director Timothy Davis, Jr. sold 3,500 shares on May 29 at an average price of $14.14, totaling about $49,490. After the sale, he still held 65,722 shares.
- Stock and financial snapshot: SiBone shares were down 1.6% and opened at $13.87, with a market cap of about $615 million. The company recently beat earnings estimates, reporting a smaller-than-expected loss of $0.10 per share on revenue of $52.59 million.
- Analyst and investor sentiment: Wall Street remains generally positive, with six Buy ratings and one Sell rating, and an average price target of $23.00. Hedge funds own the vast majority of shares, and several recently increased their positions significantly.
SiBone (NASDAQ:SIBN - Get Free Report) Director Timothy Davis, Jr. sold 3,500 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $14.14, for a total transaction of $49,490.00. Following the completion of the transaction, the director owned 65,722 shares in the company, valued at $929,309.08. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
SiBone Stock Down 1.6%
Shares of SiBone stock opened at $13.87 on Tuesday. The stock has a market capitalization of $615.12 million, a price-to-earnings ratio of -35.56 and a beta of 0.67. The company's 50 day moving average price is $13.55 and its 200-day moving average price is $16.03. SiBone has a 52-week low of $11.48 and a 52-week 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 released its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $52.59 million for the quarter, compared to analysts' expectations of $51.16 million. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. Equities research analysts forecast that SiBone will post -0.44 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on SIBN. TD Cowen lowered their price objective on SiBone from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Wall Street Zen lowered SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, Truist Financial reissued a "buy" rating and set a $18.00 price objective (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.00.
Check Out Our Latest Stock Analysis on SiBone
Hedge Funds Weigh In On SiBone
A number of hedge funds have recently bought and sold shares of SIBN. First Light Asset Management LLC raised its position in SiBone by 162.4% in the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company's stock worth $99,249,000 after buying an additional 3,115,001 shares during the last quarter. Granahan Investment Management LLC grew its stake in shares of SiBone by 97.6% during 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 during the period. Paradigm Capital Management Inc. NY grew its stake in shares of SiBone by 113.3% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company's stock valued at $14,228,000 after purchasing an additional 598,300 shares during the period. Cadian Capital Management LP grew its stake in shares of SiBone by 96.8% during the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company's stock valued at $23,094,000 after purchasing an additional 576,100 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of SiBone by 22.5% during the 3rd quarter. American Century Companies Inc. now owns 2,838,107 shares of the company's stock valued at $41,777,000 after purchasing an additional 521,683 shares during the period. Hedge funds and other institutional investors own 98.11% of the company's stock.
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.
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