SI-BONE (NASDAQ:SIBN) Shares Gap Up After Better-Than-Expected Earnings

Shares of SI-BONE, Inc. (NASDAQ:SIBN) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $17.47, but opened at $19.11. SI-BONE shares last traded at $17.97, with a volume of 201,031 shares trading hands.

The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The business had revenue of $49.00 million during the quarter, compared to the consensus estimate of $48.87 million. SI-BONE had a negative net margin of 23.82% and a negative return on equity of 22.51%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SIBN shares. Needham & Company LLC increased their price target on SI-BONE from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial upped their price objective on SI-BONE from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $25.00 target price on shares of SI-BONE in a report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.83.

Insider Buying and Selling

In related news, insider Anthony J. Recupero sold 3,670 shares of SI-BONE stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.90, for a total value of $51,013.00. Following the transaction, the insider now owns 222,814 shares of the company’s stock, valued at approximately $3,097,114.60. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total value of $73,778.64. Following the sale, the chief financial officer now owns 189,319 shares in the company, valued at approximately $2,633,427.29. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock worth $130,356 in the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Trading of SI-BONE

A number of hedge funds have recently modified their holdings of the business. Paradigm Capital Management Inc. NY raised its position in SI-BONE by 5.3% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,386,031 shares of the company’s stock valued at $19,432,000 after acquiring an additional 69,831 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SI-BONE by 8.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 102,666 shares of the company’s stock valued at $1,439,000 after buying an additional 7,855 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of SI-BONE during the 4th quarter worth about $40,000. Virtus Investment Advisers Inc. acquired a new position in shares of SI-BONE during the 4th quarter valued at about $196,000. Finally, Squarepoint Ops LLC acquired a new stake in SI-BONE in the 4th quarter worth approximately $449,000. Hedge funds and other institutional investors own 98.11% of the company’s stock.

SI-BONE Stock Performance

The firm has a fifty day simple moving average of $15.73 and a 200 day simple moving average of $14.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 8.25 and a quick ratio of 7.22. The company has a market cap of $756.56 million, a price-to-earnings ratio of -19.67 and a beta of 1.17.

SI-BONE Company Profile

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.