Northwestern Mutual Wealth Management Co. Buys 155,683 Shares of SiBone $SIBN

Northwestern Mutual Wealth Management Co. boosted its stake in SiBone (NASDAQ:SIBN) by 142,828.4% in the fourth quarter, HoldingsChannel reports. 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 Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SIBN. State of Wyoming bought a new stake in SiBone in the 2nd quarter worth approximately $55,000. Canada Pension Plan Investment Board bought a new stake in SiBone in the 2nd quarter worth approximately $68,000. Quarry LP grew its position in SiBone by 862.6% in the 3rd quarter. Quarry LP now owns 4,861 shares of the company’s stock worth $72,000 after purchasing an additional 4,356 shares during the period. Tower Research Capital LLC TRC grew its position in SiBone by 198.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,897 shares of the company’s stock worth $92,000 after purchasing an additional 3,258 shares during the period. Finally, State of Tennessee Department of Treasury bought a new stake in SiBone in the 2nd quarter worth approximately $137,000. Institutional investors own 98.11% of the company’s stock.

SiBone Price Performance

SIBN opened at $14.68 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.99. SiBone has a fifty-two week low of $11.48 and a fifty-two week high of $21.89. The firm’s fifty day moving average is $13.41 and its 200 day moving average is $16.09. The stock has a market cap of $651.06 million, a price-to-earnings ratio of -37.64 and a beta of 0.67.

SiBone (NASDAQ:SIBN) last released its earnings results on Monday, May 11th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. SiBone had a negative net margin of 8.10% and a negative return on equity of 9.56%. The company had revenue of $52.59 million for the quarter, compared to analysts’ expectations of $51.16 million. On average, sell-side analysts forecast that SiBone will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SIBN has been the subject of a number of research analyst reports. TD Cowen cut their target price on shares of SiBone from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen cut shares of SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Finally, Truist Financial reiterated a “buy” rating and set a $18.00 price target (down from $20.00) on shares of SiBone in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Activity

In related news, Director Mika Nishimura sold 4,100 shares of SiBone stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $13.83, for a total transaction of $56,703.00. Following the transaction, the director owned 32,716 shares in the company, valued at approximately $452,462.28. The trade was a 11.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anshul Maheshwari sold 3,318 shares of SiBone stock in a transaction 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 transaction, the chief financial officer owned 263,148 shares in the company, valued at approximately $3,386,714.76. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,572 shares of company stock worth $418,831 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.