Free Trial

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

SI-BONE logo with Medical background
Remove Ads

SI-BONE, Inc. (NASDAQ:SIBN - Get Free Report)'s stock price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. 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.

The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.05. The company had revenue of $49.00 million for the quarter, compared to analyst estimates of $48.87 million. SI-BONE had a negative return on equity of 22.51% and a negative net margin of 23.82%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SIBN. Needham & Company LLC boosted their price objective on SI-BONE from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday. Truist Financial reissued a "buy" rating and issued a $22.00 price objective (up previously from $18.00) on shares of SI-BONE in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $25.00 price objective on shares of SI-BONE in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $24.50.

Check Out Our Latest Analysis on SIBN

Insider Activity

In other news, CFO Anshul Maheshwari sold 5,304 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $13.91, for a total transaction of $73,778.64. Following the transaction, the chief financial officer now owns 189,319 shares of the company's stock, valued at $2,633,427.29. This represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anthony J. Recupero sold 3,670 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $13.90, for a total value of $51,013.00. Following the completion of the transaction, the insider now directly owns 222,814 shares in the company, valued at $3,097,114.60. The trade was a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,311 shares of company stock valued at $130,356 over the last 90 days. 3.90% of the stock is owned by company insiders.

Remove Ads

Hedge Funds Weigh In On SI-BONE

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in SI-BONE by 103.6% in the third quarter. FMR LLC now owns 2,354 shares of the company's stock valued at $33,000 after buying an additional 1,198 shares during the period. Virtus Fund Advisers LLC acquired a new position in SI-BONE in the fourth quarter valued at about $40,000. Mainstream Capital Management LLC acquired a new position in SI-BONE in the fourth quarter valued at about $53,000. R Squared Ltd acquired a new position in SI-BONE in the fourth quarter valued at about $73,000. Finally, KLP Kapitalforvaltning AS acquired a new position in SI-BONE in the fourth quarter valued at about $97,000. Institutional investors and hedge funds own 98.11% of the company's stock.

SI-BONE Stock Up 1.7 %

The firm has a fifty day simple moving average of $16.11 and a 200-day simple moving average of $14.79. The company has a market capitalization of $769.25 million, a P/E ratio of -19.70 and a beta of 1.17. The company has a quick ratio of 7.22, a current ratio of 8.25 and a debt-to-equity ratio of 0.22.

SI-BONE Company Profile

(Get Free Report)

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.

Further Reading

Should You Invest $1,000 in SI-BONE Right Now?

Before you consider SI-BONE, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SI-BONE wasn't on the list.

While SI-BONE currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 AI Stocks to Invest in Today: Capitalizing on AI and Tech Trends in 2025 Cover

Discover the top 7 AI stocks to invest in right now. This exclusive report highlights the companies leading the AI revolution and shaping the future of technology in 2025.

Get This Free Report
Like this article? Share it with a colleague.
Remove Ads

Featured Articles and Offers

Recent Videos

Institutions Are Dumping These 3 Stocks—Should You?
Will Tesla’s Robot Future Save Its Falling Stock?
NVIDIA’s Dip Is a Gift—Here’s Why It Won’t Last

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines

Remove Ads