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

SI-BONE (NASDAQ:SIBN) released its quarterly earnings data on Monday. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.04, Yahoo Finance reports. The firm had revenue of $39.97 million during 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 last year, the business earned ($0.30) earnings per share.

SI-BONE Trading Down 0.7 %

Shares of NASDAQ SIBN traded down $0.10 during trading on Wednesday, reaching $14.12. The stock had a trading volume of 419,450 shares, compared to its average volume of 406,873. 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 company has a market cap of $581.89 million, a P/E ratio of -12.93 and a beta of 1.20. SI-BONE has a fifty-two week low of $11.76 and a fifty-two week high of $23.81. The business’s 50-day moving average price is $14.05 and its 200-day moving average price is $15.92.

Insider Activity at SI-BONE

In other news, insider Anthony J. Recupero sold 3,941 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.10, for a total transaction of $59,509.10. Following the sale, the insider now owns 247,592 shares of the company’s stock, valued at $3,738,639.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SI-BONE news, insider Anthony J. Recupero sold 3,941 shares of the business’s 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 in the company, valued at $3,738,639.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anshul Maheshwari sold 2,441 shares of the stock in a transaction on Thursday, May 16th. The shares were 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 in the company, valued at $3,092,208.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,956 shares of company stock worth $172,480. 5.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SIBN. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of SI-BONE in a report on Tuesday, May 7th. 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 research report on Tuesday. Morgan Stanley lowered their price target on SI-BONE from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Needham & Company LLC cut their price objective on SI-BONE from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $23.00.

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.