SI-BONE (NASDAQ:SIBN) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

SI-BONE (NASDAQ:SIBN) posted its quarterly earnings data on Monday. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.04, Yahoo Finance reports. The business had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $38.95 million. SI-BONE had a negative net margin of 29.93% and a negative return on equity of 25.14%. During the same period in the previous year, the firm posted ($0.30) EPS.

SI-BONE Stock Performance

SIBN stock remained flat at $14.22 during mid-day trading on Wednesday. 64,469 shares of the company’s stock traded hands, compared to its average volume of 404,522. The company has a debt-to-equity ratio of 0.22, a quick ratio of 8.75 and a current ratio of 9.76. The stock has a market cap of $586.01 million, a price-to-earnings ratio of -13.05 and a beta of 1.20. SI-BONE has a twelve month low of $11.76 and a twelve month high of $23.81. The firm’s 50 day moving average is $14.05 and its two-hundred day moving average is $15.92.

Insider Activity

In related news, CFO Anshul Maheshwari sold 2,441 shares of SI-BONE stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $15.14, for a total value of $36,956.74. Following the completion of the sale, the chief financial officer now owns 204,241 shares of the company’s stock, valued at approximately $3,092,208.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SI-BONE news, CFO Anshul Maheshwari sold 2,441 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $15.14, for a total transaction of $36,956.74. Following the sale, the chief financial officer now owns 204,241 shares in the company, valued at $3,092,208.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony J. Recupero sold 3,941 shares of SI-BONE stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $15.10, for a total value of $59,509.10. Following the completion of the transaction, the insider now owns 247,592 shares of the company’s stock, valued at $3,738,639.20. The disclosure for this sale can be found here. Insiders sold 11,956 shares of company stock valued at $172,480 in the last three months. Company insiders own 5.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SIBN has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of SI-BONE from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday. Needham & Company LLC dropped their price objective on shares of SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of SI-BONE in a research report on Tuesday, May 7th. Finally, Truist Financial reduced their target price on SI-BONE from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, SI-BONE has a consensus rating of “Buy” and an average target price of $23.00.

About SI-BONE

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.