SI-Bone (NASDAQ:SIBN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of SI-Bone (NASDAQ:SIBN) from a hold rating to a sell rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “SI-BONE Inc. is a medical device company which developed the iFuse Implant System(R) for minimally invasive surgical treatment of the sacroiliac joint dysfunction. SI-BONE Inc. is based in Santa Clara, California. “

Separately, ValuEngine lowered SI-Bone from a buy rating to a hold rating in a report on Monday, November 4th.

Shares of SI-Bone stock traded up $0.10 during midday trading on Friday, hitting $17.67. 68,700 shares of the company were exchanged, compared to its average volume of 122,672. The company has a debt-to-equity ratio of 0.50, a current ratio of 12.00 and a quick ratio of 11.55. SI-Bone has a 52 week low of $14.08 and a 52 week high of $23.03. The firm has a 50 day simple moving average of $17.09 and a 200-day simple moving average of $18.02. The firm has a market cap of $440.18 million and a P/E ratio of -24.89.

SI-Bone (NASDAQ:SIBN) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.10). SI-Bone had a negative return on equity of 40.44% and a negative net margin of 54.85%. The company had revenue of $16.18 million for the quarter. Equities research analysts expect that SI-Bone will post -1.51 earnings per share for the current year.

In other SI-Bone news, major shareholder Skyline Venture Partners V. Lp sold 47,576 shares of SI-Bone stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $20.15, for a total transaction of $958,656.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey W. Dunn sold 14,503 shares of SI-Bone stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $19.16, for a total value of $277,877.48. Over the last quarter, insiders have sold 332,691 shares of company stock worth $6,200,003. Corporate insiders own 38.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SIBN. Bank of Montreal Can bought a new stake in shares of SI-Bone in the second quarter valued at about $28,000. Private Ocean LLC bought a new stake in shares of SI-Bone in the second quarter valued at about $131,000. Citadel Advisors LLC bought a new stake in shares of SI-Bone in the second quarter valued at about $272,000. Bank of New York Mellon Corp lifted its holdings in shares of SI-Bone by 50.2% in the second quarter. Bank of New York Mellon Corp now owns 45,205 shares of the company’s stock valued at $919,000 after purchasing an additional 15,111 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SI-Bone by 14.7% in the second quarter. Northern Trust Corp now owns 129,512 shares of the company’s stock valued at $2,634,000 after purchasing an additional 16,560 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

SI-Bone Company Profile

SI-BONE, Inc, a medical device company, develops and commercializes a proprietary minimally invasive surgical implant system in the United States and Internationally. It offers iFuse, an implant system to fuse the sacroiliac joint to treat sacroiliac joint dysfunction that causes lower back pain. The company was founded in 2008 and is headquartered in Santa Clara, California.

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