SiBone (NASDAQ:SIBN) Trading 5.4% Higher on Analyst Upgrade

SiBone (NASDAQ:SIBN) traded up 5.4% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $24.00 to $27.00. Needham & Company LLC currently has a buy rating on the stock. SiBone traded as high as $19.30 and last traded at $19.41. 68,171 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 448,675 shares. The stock had previously closed at $18.41.

Several other equities research analysts have also issued reports on SIBN. Weiss Ratings reiterated a “sell (e+)” rating on shares of SiBone in a research note on Monday, December 8th. Morgan Stanley lifted their target price on SiBone from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Truist Financial dropped their target price on SiBone from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, SiBone presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 3,833 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $17.44, for a total value of $66,847.52. Following the completion of the sale, the insider directly owned 268,144 shares in the company, valued at approximately $4,676,431.36. This trade represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Laura Francis sold 5,411 shares of SiBone stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $17.70, for a total value of $95,774.70. Following the transaction, the chief executive officer owned 351,319 shares of the company’s stock, valued at $6,218,346.30. The trade was a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 147,128 shares of company stock worth $2,698,252 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SiBone

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of SiBone by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,444,159 shares of the company’s stock valued at $34,292,000 after purchasing an additional 35,349 shares during the last quarter. Invesco Ltd. boosted its stake in SiBone by 82.8% in the 1st quarter. Invesco Ltd. now owns 31,448 shares of the company’s stock valued at $441,000 after purchasing an additional 14,245 shares during the period. Nuveen LLC bought a new stake in SiBone in the 1st quarter valued at $18,605,000. Russell Investments Group Ltd. grew its holdings in SiBone by 765.3% in the 1st quarter. Russell Investments Group Ltd. now owns 201,758 shares of the company’s stock valued at $2,831,000 after buying an additional 178,442 shares in the last quarter. Finally, American Century Companies Inc. increased its position in SiBone by 11.1% during the 1st quarter. American Century Companies Inc. now owns 2,642,322 shares of the company’s stock worth $37,072,000 after buying an additional 264,254 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

SiBone Stock Up 5.5%

The stock has a fifty day moving average price of $17.06 and a two-hundred day moving average price of $16.82. The company has a market cap of $843.09 million, a price-to-earnings ratio of -38.10 and a beta of 0.76. The company has a quick ratio of 6.62, a current ratio of 7.97 and a debt-to-equity ratio of 0.21.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, November 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $48.66 million for the quarter, compared to analyst estimates of $46.67 million. SiBone had a negative net margin of 11.24% and a negative return on equity of 12.86%. As a group, sell-side analysts expect that SiBone will post -0.78 EPS for the current year.

SiBone Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.