Key Points
- SiBone Director Jeffrey Dunn sold 20,000 shares at an average price of $18.46, generating $369,200 and reducing his direct ownership by 55.47% to 16,057 shares.
- SiBone reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analyst expectations of $55.34 million in revenue and a $0.15 loss.
- Analysts maintain a generally positive outlook, with seven Buy ratings and one Sell rating; the stock has a consensus “Moderate Buy” rating and a $24.29 price target, compared with its $18.04 opening price.
SiBone (NASDAQ:SIBN - Get Free Report) Director Jeffrey Dunn sold 20,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $18.46, for a total value of $369,200.00. Following the sale, the director directly owned 16,057 shares in the company, valued at approximately $296,412.22. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
SiBone Stock Down 2.2%
Shares of NASDAQ SIBN opened at $18.04 on Thursday. The stock has a market capitalization of $800.06 million, a P/E ratio of -53.06 and a beta of 0.66. The stock's fifty day moving average is $16.45 and its 200 day moving average is $15.14. 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 posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.31%. The business had revenue of $56.01 million during the quarter, compared to analysts' expectations of $55.34 million. Sell-side analysts forecast that SiBone will post -0.44 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Truist Financial reaffirmed a "buy" rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a report on Tuesday. Weiss Ratings raised shares of SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded shares of SiBone from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. UBS Group upped their target price on SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, TD Cowen raised their target price on SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, SiBone presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.29.
Get Our Latest Research Report on SiBone
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in shares of SiBone by 102.9% in the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company's stock worth $29,000 after acquiring an additional 887 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of SiBone by 8.7% during the 1st quarter. Bank of America Corp DE now owns 419,473 shares of the company's stock valued at $5,298,000 after purchasing an additional 33,688 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of SiBone during the 1st quarter valued at approximately $159,000. Quantinno Capital Management LP increased its position in SiBone by 58.2% during the 1st 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 in the last quarter. Finally, First Light Asset Management LLC increased its position in SiBone by 6.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds 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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