Truist Financial Cuts SiBone (NASDAQ:SIBN) Price Target to $20.00
by Danessa Lincoln · The Markets DailySiBone (NASDAQ:SIBN – Free Report) had its price target cut by Truist Financial from $24.00 to $20.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
A number of other analysts also recently issued reports on the company. Wall Street Zen raised SiBone from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SiBone in a research note on Monday, December 29th. TD Cowen lifted their price objective on SiBone from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Canaccord Genuity Group lifted their price objective on SiBone from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Finally, Needham & Company LLC lifted their price objective on SiBone from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, SiBone has a consensus rating of “Moderate Buy” and an average price target of $24.00.
Check Out Our Latest Analysis on SIBN
SiBone Stock Performance
NASDAQ:SIBN opened at $14.09 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.55 and a quick ratio of 7.21. SiBone has a 1 year low of $12.15 and a 1 year high of $21.89. The stock’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $16.32. The company has a market cap of $622.36 million, a price-to-earnings ratio of -32.02 and a beta of 0.77.
SiBone (NASDAQ:SIBN – Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SiBone had a negative return on equity of 11.01% and a negative net margin of 9.41%.The business had revenue of $56.35 million for the quarter, compared to the consensus estimate of $56.26 million. As a group, equities analysts anticipate that SiBone will post -0.78 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Mika Nishimura sold 4,100 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $13.83, for a total transaction of $56,703.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anshul Maheshwari sold 21,528 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $15.37, for a total value of $330,885.36. Following the transaction, the chief financial officer directly owned 266,466 shares in the company, valued at approximately $4,095,582.42. This represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 167,697 shares of company stock worth $2,551,086. Company insiders own 4.00% of the company’s stock.
Hedge Funds Weigh In On SiBone
Large investors have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd bought a new position in shares of SiBone during the 4th quarter valued at approximately $29,000. Royal Bank of Canada increased its position in shares of 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 purchasing an additional 736 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position 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 purchasing an additional 1,941 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of SiBone during the 3rd quarter valued at approximately $39,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of SiBone during the 4th quarter valued at approximately $53,000. Institutional investors own 98.11% of the company’s stock.
SiBone Company Profile
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.