Key Points
- SiBone SVP Michael Pisetsky sold 3,134 shares on July 2 at an average price of $16.71, generating about $52,369. The sale reduced his holdings by 1.12% and was made to cover tax withholding tied to equity award vesting.
- The company recently beat quarterly expectations, reporting a loss of $0.10 per share versus the expected loss of $0.17. Revenue came in at $52.59 million, slightly above estimates.
- Wall Street remains cautiously positive on SIBN, with six Buy ratings and one Sell rating, and an average price target of $23.00. However, some firms have trimmed targets or downgraded the stock recently.
SiBone (NASDAQ:SIBN - Get Free Report) SVP Michael Pisetsky sold 3,134 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $16.71, for a total value of $52,369.14. Following the completion of the transaction, the senior vice president owned 277,375 shares in the company, valued at $4,634,936.25. This represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
SiBone Price Performance
Shares of SIBN opened at $17.79 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. The firm has a market cap of $788.99 million, a PE ratio of -45.47 and a beta of 0.67. The firm's 50 day moving average price is $14.79 and its 200 day moving average price is $15.49. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89.
SiBone (NASDAQ:SIBN - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million during the quarter, compared to the consensus estimate of $51.16 million. As a group, research analysts expect that SiBone will post -0.44 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
SIBN has been the topic of several analyst reports. Truist Financial reissued a "buy" rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research report on Tuesday, May 12th. Wall Street Zen downgraded SiBone from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. TD Cowen lowered 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. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of SiBone in a research note on Thursday. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.00.
View Our Latest Stock Report on SiBone
Institutional Investors Weigh In On SiBone
A number of institutional investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC increased its stake in SiBone by 162.4% during the fourth quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company's stock valued at $99,249,000 after acquiring an additional 3,115,001 shares during the period. Granahan Investment Management LLC lifted its position in shares of SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company's stock worth $21,965,000 after acquiring an additional 858,942 shares during the period. Paradigm Capital Management Inc. NY lifted its position in shares of SiBone by 113.3% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,126,500 shares of the company's stock worth $14,228,000 after acquiring an additional 598,300 shares during the period. Cadian Capital Management LP grew its holdings 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 worth $23,094,000 after purchasing an additional 576,100 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of SiBone by 74.7% during the 3rd quarter. Wellington Management Group LLP now owns 853,266 shares of the company's stock worth $12,560,000 after purchasing an additional 364,897 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.
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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