Wellington Management Group LLP lowered its stake in SiBone (NASDAQ:SIBN – Free Report) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 742,857 shares of the company’s stock after selling 29,755 shares during the quarter. Wellington Management Group LLP owned 1.67% of SiBone worth $12,123,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. First Light Asset Management LLC grew its position in shares of SiBone by 6.4% in the first quarter. First Light Asset Management LLC now owns 5,353,190 shares of the company’s stock valued at $67,611,000 after purchasing an additional 320,286 shares during the period. Vanguard Group Inc. raised its position in shares of SiBone by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,501,555 shares of the company’s stock worth $49,331,000 after purchasing an additional 11,566 shares during the last quarter. Granahan Investment Management LLC lifted its stake in SiBone by 97.6% in the 1st quarter. Granahan Investment Management LLC now owns 1,739,097 shares of the company’s stock valued at $21,965,000 after buying an additional 858,942 shares in the last quarter. Nuveen LLC boosted its holdings in SiBone by 5.1% in the 4th quarter. Nuveen LLC now owns 1,421,946 shares of the company’s stock worth $28,041,000 after buying an additional 69,229 shares during the last quarter. Finally, Cadian Capital Management LP boosted its holdings in SiBone by 96.8% in the 4th quarter. Cadian Capital Management LP now owns 1,171,100 shares of the company’s stock worth $23,094,000 after buying an additional 576,100 shares during the last quarter. 98.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have commented on SIBN. TD Cowen increased their target price on SiBone from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Truist Financial reissued a “buy” rating and issued a $23.00 price objective (up from $21.00) on shares of SiBone in a research note on Tuesday, August 4th. UBS Group lifted their target price on shares of SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings raised shares of SiBone from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.
SiBone Stock Performance
Shares of SiBone stock opened at $18.50 on Tuesday. The stock has a 50 day moving average of $18.15 and a 200 day moving average of $15.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 7.55 and a current ratio of 9.15. The firm has a market capitalization of $820.48 million, a price-to-earnings ratio of -54.41 and a beta of 0.70. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89.
SiBone (NASDAQ:SIBN – Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The company had revenue of $56.01 million for the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative return on equity of 8.23% and a negative net margin of 6.85%. As a group, research analysts predict that SiBone will post -0.4 earnings per share for the current year.
Insider Activity at SiBone
In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $18.91, for a total value of $378,200.00. Following the transaction, the director owned 16,057 shares of the company’s stock, valued at $303,637.87. This represents a 55.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laura Francis sold 25,972 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $20.12, for a total transaction of $522,556.64. Following the transaction, the chief executive officer directly owned 291,491 shares of the company’s stock, valued at approximately $5,864,798.92. This trade represents a 8.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 165,231 shares of company stock valued at $3,193,690 in the last quarter. Corporate insiders own 4.00% of the company’s stock.
SiBone Profile
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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