SiBone (NASDAQ:SIBN – Get Free Report) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.61, but opened at $12.63. SiBone shares last traded at $13.4080, with a volume of 529,226 shares trading hands.
The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.07. The business had revenue of $52.59 million during the quarter, compared to analysts’ expectations of $51.16 million. SiBone had a negative net margin of 9.41% and a negative return on equity of 11.01%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SIBN shares. Truist Financial restated a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a report on Tuesday. TD Cowen reissued a “buy” rating on shares of SiBone in a research note on Tuesday. Finally, Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.67.
Insider Buying and Selling
In related 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 value of $1,432,037.00. Following the transaction, the chief executive officer directly owned 544,369 shares of the company’s stock, valued at approximately $8,339,733.08. This represents a 14.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mika Nishimura sold 4,100 shares of the stock in a transaction 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 sale, the director directly owned 32,716 shares in the company, valued at $452,462.28. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 167,697 shares of company stock worth $2,549,984 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On SiBone
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd bought a new stake in SiBone in the 4th quarter worth approximately $29,000. Royal Bank of Canada raised its stake in SiBone by 98.5% during the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after buying an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of SiBone by 64,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,944 shares of the company’s stock valued at $38,000 after buying an additional 1,941 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of SiBone in the 3rd quarter worth $39,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of SiBone in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.
SiBone Stock Up 15.3%
The company has a quick ratio of 7.21, a current ratio of 8.55 and a debt-to-equity ratio of 0.20. The company has a market cap of $592.15 million, a P/E ratio of -30.35 and a beta of 0.67. The company has a fifty day moving average of $13.40 and a 200 day moving average of $16.14.
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.
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