SiBone (NASDAQ:SIBN) Stock Has Average Target Price of $24.50 According to Brokerages

by · The Markets Daily

Shares of SiBone (NASDAQ:SIBN – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.50.

Several analysts have commented on the company. UBS Group upped their price objective on SiBone from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. TD Cowen raised their price target on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Truist Financial lifted their price objective on SiBone from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th.

Get Our Latest Report on SiBone

Insider Activity at SiBone

In other SiBone news, insider Anshul Maheshwari sold 11,636 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $20.11, for a total value of $233,999.96. Following the sale, the insider directly owned 223,284 shares of the company’s stock, valued at approximately $4,490,241.24. This trade represents a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey Dunn sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $18.46, for a total transaction of $369,200.00. Following the completion of the sale, the director owned 16,057 shares of the company’s stock, valued at approximately $296,412.22. The trade was a 55.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 224,968 shares of company stock valued at $4,368,118. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On SiBone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its position in SiBone by 51.8% during the 2nd quarter. First Light Asset Management LLC now owns 8,127,985 shares of the company’s stock worth $132,649,000 after purchasing an additional 2,774,795 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in SiBone by 40.3% in the 2nd quarter. Squarepoint Ops LLC now owns 118,128 shares of the company’s stock worth $1,928,000 after buying an additional 33,947 shares in the last quarter. VELA Investment Management LLC lifted its stake in shares of SiBone by 7.4% in the second quarter. VELA Investment Management LLC now owns 201,094 shares of the company’s stock worth $3,282,000 after acquiring an additional 13,934 shares in the last quarter. Corient Private Wealth LP boosted its stake in shares of SiBone by 119.6% during the 2nd quarter. Corient Private Wealth LP now owns 43,946 shares of the company’s stock valued at $717,000 after buying an additional 23,938 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in SiBone by 102.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock valued at $29,000 after acquiring an additional 887 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Performance

Shares of SIBN stock opened at $21.48 on Friday. The stock’s 50-day moving average is $19.16 and its two-hundred day moving average is $16.85. The firm has a market cap of $952.64 million, a price-to-earnings ratio of -63.18 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. SiBone has a 1 year low of $11.48 and a 1 year high of $21.89.

SiBone (NASDAQ:SIBN – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.06. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. The company had revenue of $56.01 million for the quarter, compared to analyst estimates of $55.34 million. Analysts predict that SiBone will post -0.40 earnings per share for the current year.

About SiBone

(Get Free Report)

SI-BONE, Inc (NASDAQ: SIBN) is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.

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