Northwestern Mutual Wealth Management Co. grew its stake in SiBone (NASDAQ:SIBN – Free Report) by 142,828.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 155,792 shares of the company’s stock after acquiring an additional 155,683 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in SiBone were worth $3,072,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd acquired a new stake in SiBone in the 4th quarter valued at approximately $29,000. State of Wyoming purchased a new position in shares of SiBone during the second quarter worth $55,000. Canada Pension Plan Investment Board purchased a new position in shares of SiBone during the second quarter worth $68,000. Larson Financial Group LLC grew its stake in shares of SiBone by 42.3% in the fourth quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock valued at $70,000 after buying an additional 1,061 shares in the last quarter. Finally, Quarry LP grew its stake in shares of SiBone by 862.6% in the third quarter. Quarry LP now owns 4,861 shares of the company’s stock valued at $72,000 after buying an additional 4,356 shares in the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms recently issued reports on SIBN. Truist Financial reissued a “buy” rating and set a $18.00 target price (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, TD Cowen reduced their price target on shares of SiBone from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.
Insider Buying and Selling at SiBone
In related news, CFO Anshul Maheshwari sold 3,318 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $12.87, for a total transaction of $42,702.66. Following the sale, the chief financial officer directly owned 263,148 shares in the company, valued at approximately $3,386,714.76. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laura Francis sold 14,957 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $14.71, for a total transaction of $220,017.47. Following the completion of the sale, the chief executive officer directly owned 503,444 shares in the company, valued at approximately $7,405,661.24. This trade represents a 2.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 36,852 shares of company stock valued at $523,018. 4.00% of the stock is currently owned by company insiders.
SiBone Stock Up 6.9%
Shares of NASDAQ SIBN opened at $14.88 on Friday. The stock has a market cap of $659.91 million, a P/E ratio of -38.15 and a beta of 0.70. The business’s fifty day simple moving average is $13.63 and its 200-day simple moving average is $15.96. SiBone has a 12-month low of $11.48 and a 12-month high of $21.89. The company has a current ratio of 9.99, a quick ratio of 8.34 and a debt-to-equity ratio of 0.20.
SiBone (NASDAQ:SIBN – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.07. The company had revenue of $52.59 million for the quarter, compared to the consensus estimate of $51.16 million. SiBone had a negative return on equity of 9.56% and a negative net margin of 8.10%. As a group, equities analysts predict that SiBone will post -0.44 EPS for the current fiscal year.
About SiBone
Si-BONE, Inc is a commercial‐stage medical device company focused on the design, development and commercialization of implant systems to treat degenerative conditions of the sacroiliac (SI) joint. Its flagship product, the iFuse Implant System, consists of triangular titanium implants that are inserted via a minimally invasive surgical procedure to stabilize the SI joint and alleviate chronic lower back and buttock pain.
FDA‐cleared in 2012, the iFuse portfolio has expanded to include the iFuse-3D and iFuse-3Di devices, which feature a porous, 3D-printed surface to promote bone ongrowth and biological fixation.
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