SiBone (NASDAQ:SIBN) Price Target Raised to $23.00

SiBone (NASDAQ:SIBN) had its price objective raised by TD Cowen from $20.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup reaffirmed a “market outperform” rating on shares of SiBone in a research report on Tuesday. Truist Financial increased their price objective on shares of SiBone from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. UBS Group lifted their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Finally, Needham & Company LLC lowered their target price on SiBone from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday. Seven 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

SiBone Stock Performance

Shares of SIBN stock opened at $24.27 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.58 and a quick ratio of 7.55. The company has a fifty day moving average price of $19.71 and a two-hundred day moving average price of $16.56. The stock has a market cap of $1.09 billion, a P/E ratio of -78.29 and a beta of 0.64. SiBone has a one year low of $11.48 and a one year high of $25.92.

SiBone (NASDAQ:SIBN) last issued its earnings results on Monday, November 2nd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05. SiBone had a negative return on equity of 7.57% and a negative net margin of 6.20%. The company had revenue of $55.70 million during the quarter, compared to the consensus estimate of $55.31 million. As a group, equities analysts predict that SiBone will post -0.34 EPS for the current year.

Insider Activity at SiBone

In other SiBone news, Director Jeffrey Dunn sold 20,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $20.89, for a total value of $417,800.00. Following the transaction, the director directly owned 16,057 shares of the company’s stock, valued at approximately $335,430.73. This trade represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura Francis sold 38,006 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $20.05, for a total value of $762,020.30. Following the completion of the transaction, the chief executive officer owned 379,256 shares in the company, valued at $7,604,082.80. This represents a 9.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 258,371 shares of company stock worth $5,156,716. Corporate insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On SiBone

A number of hedge funds and other institutional investors have recently modified their holdings of SIBN. Versant Capital Management Inc increased its holdings in SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company’s stock worth $29,000 after buying an additional 887 shares during the last quarter. State of Wyoming boosted its position 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 purchasing an additional 4,490 shares during the period. Inceptionr LLC purchased a new position in shares of SiBone in the first quarter worth about $156,000. ADAR1 Capital Management LLC purchased a new position in shares of SiBone in the first quarter worth about $159,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of SiBone in the first quarter valued at approximately $204,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

About SiBone

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.