Key Points
- Director Jeffrey Dunn sold 20,000 SiBone shares at an average price of $18.47, totaling $369,400. The sale reduced his ownership by 55.47% to 16,057 shares.
- SiBone shares were trading up 9.6% at $19.81, while the company reported quarterly revenue of $56.01 million and an adjusted loss of $0.09 per share, beating analyst expectations.
- Institutional investors own 98.11% of SiBone, and analysts maintain a “Moderate Buy” consensus with an average price target of $24.17.
SiBone (NASDAQ:SIBN - Get Free Report) Director Jeffrey Dunn sold 20,000 shares of SiBone stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $18.47, for a total value of $369,400.00. Following the completion of the transaction, the director owned 16,057 shares of the company's stock, valued at approximately $296,572.79. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
SiBone Trading Up 9.6%
Shares of NASDAQ:SIBN opened at $19.81 on Tuesday. The company has a market cap of $878.55 million, a PE ratio of -58.26 and a beta of 0.66. The company's 50 day moving average is $18.73 and its two-hundred day moving average is $16.15. SiBone has a 52 week low of $11.48 and a 52 week high of $21.89. The company has a current ratio of 9.15, a quick ratio of 7.55 and a debt-to-equity ratio of 0.20.
SiBone (NASDAQ:SIBN - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.06. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. The company had revenue of $56.01 million for the quarter, compared to analysts' expectations of $55.34 million. Equities analysts predict that SiBone will post -0.4 earnings per share for the current fiscal year.
Institutional Trading of SiBone
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of SiBone by 41.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 618,939 shares of the company's stock valued at $7,816,000 after acquiring an additional 182,465 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of SiBone by 51.8% in the second quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company's stock worth $132,649,000 after acquiring an additional 2,774,795 shares during the last quarter. Next Century Growth Investors LLC grew its holdings in SiBone by 508.4% in the fourth quarter. Next Century Growth Investors LLC now owns 141,998 shares of the company's stock valued at $2,800,000 after purchasing an additional 118,657 shares during the period. Renaissance Technologies LLC grew its holdings in SiBone by 101.6% in the first quarter. Renaissance Technologies LLC now owns 472,619 shares of the company's stock valued at $5,969,000 after purchasing an additional 238,219 shares during the period. Finally, Squarepoint Ops LLC increased its position in SiBone by 40.3% during the second quarter. Squarepoint Ops LLC now owns 118,128 shares of the company's stock worth $1,928,000 after purchasing an additional 33,947 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on SIBN shares. UBS Group upped their price objective on shares of SiBone from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Truist Financial reiterated a "buy" rating and set a $23.00 price target (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 20th. Finally, TD Cowen lifted their price objective on SiBone from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, SiBone has a consensus rating of "Moderate Buy" and an average target price of $24.17.
Read Our Latest Research Report on SiBone
About SiBone
(
Get Free Report)
SI-BONE, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of disorders affecting the sacroiliac joint, which connects the spine to the pelvis. The company's technology is intended to support minimally invasive procedures for patients with sacroiliac joint dysfunction and related conditions.
Its product portfolio includes the iFuse Implant System, a family of triangular titanium implants designed to stabilize and fuse the sacroiliac joint.
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