Insider Selling: SiBone (NASDAQ:SIBN) Director Sells $369,400.00 in Stock

SiBone (NASDAQ:SIBN) Director Jeffrey Dunn sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $18.47, for a total value of $369,400.00. Following the sale, the director owned 16,057 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link.

SiBone Price Performance

Shares of SiBone stock opened at $19.10 on Thursday. The firm has a market cap of $847.09 million, a PE ratio of -56.18 and a beta of 0.66. SiBone has a twelve month low of $11.48 and a twelve month high of $21.89. The company has a quick ratio of 7.55, a current ratio of 9.15 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $18.78 and a 200 day moving average price of $16.24.

SiBone (NASDAQ:SIBN) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $55.34 million. Sell-side analysts predict that SiBone will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SIBN shares. UBS Group lifted their price target on shares of SiBone from $24.00 to $25.00 and gave the company a “buy” rating 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. TD Cowen increased their price objective on shares of SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Truist Financial reissued a “buy” rating and set a $23.00 target price (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SiBone currently has a consensus rating of “Moderate Buy” and an average price target of $24.17.

Institutional Trading of SiBone

Several large investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its position 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 valued at $29,000 after purchasing an additional 887 shares in the last quarter. D.A. Davidson & CO. lifted its position in SiBone by 5.7% during the first quarter. D.A. Davidson & CO. now owns 36,882 shares of the company’s stock worth $466,000 after buying an additional 1,991 shares in the last quarter. Diversified Trust Co boosted its stake in SiBone by 10.8% during the first quarter. Diversified Trust Co now owns 24,335 shares of the company’s stock worth $307,000 after buying an additional 2,375 shares during the last quarter. State of Wyoming boosted its stake in SiBone by 70.8% during the first quarter. State of Wyoming now owns 10,832 shares of the company’s stock worth $137,000 after buying an additional 4,490 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in SiBone by 58.2% in the 1st quarter. Quantinno Capital Management LP now owns 29,475 shares of the company’s stock valued at $372,000 after buying an additional 10,848 shares in the last quarter. 98.11% of the stock is currently owned by hedge funds and other institutional investors.

About SiBone

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.