SiBone (NASDAQ:SIBN) Rating Lowered to Hold at Wall Street Zen
by Sarita Garza · The Markets DailySiBone (NASDAQ:SIBN – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other brokerages have also recently commented on SIBN. Weiss Ratings restated a “sell (d-)” rating on shares of SiBone in a report on Monday, December 29th. Truist Financial lowered their price target on shares of SiBone from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, TD Cowen boosted their price target on shares of SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Get Our Latest Stock Analysis on SiBone
SiBone Price Performance
Shares of SiBone stock opened at $14.09 on Friday. The firm has a market cap of $622.36 million, a PE ratio of -32.02 and a beta of 0.77. The business’s 50 day simple moving average is $14.09 and its 200 day simple moving average is $16.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.21 and a current ratio of 8.55. SiBone has a 52-week low of $12.15 and a 52-week high of $21.89.
SiBone (NASDAQ:SIBN – Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The firm had revenue of $56.35 million during the quarter, compared to the consensus estimate of $56.26 million. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%. On average, analysts predict that SiBone will post -0.78 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Laura Francis sold 93,475 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $15.32, for a total transaction of $1,432,037.00. Following the sale, the chief executive officer owned 544,369 shares in the company, valued at $8,339,733.08. This represents a 14.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mika Nishimura sold 4,100 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total value of $56,703.00. Following the completion of the sale, the director directly owned 32,716 shares of the company’s stock, valued at approximately $452,462.28. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 167,697 shares of company stock worth $2,551,086. Corporate insiders own 3.90% of the company’s stock.
Institutional Trading of SiBone
A number of large investors have recently added to or reduced their stakes in SIBN. First Light Asset Management LLC increased its stake in shares of SiBone by 162.4% during the 4th quarter. First Light Asset Management LLC now owns 5,032,904 shares of the company’s stock worth $99,249,000 after purchasing an additional 3,115,001 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of SiBone by 22.5% in 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. Vanguard Group Inc. lifted its stake in SiBone by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock valued at $49,331,000 after purchasing an additional 11,566 shares during the last quarter. Nuveen LLC lifted its stake in SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock valued at $28,041,000 after purchasing an additional 69,229 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in SiBone by 17.1% during the fourth quarter. Impax Asset Management Group plc now owns 1,200,010 shares of the company’s stock worth $23,664,000 after purchasing an additional 175,000 shares during the period. Institutional investors and hedge funds own 98.11% of the company’s stock.
About SiBone
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.