Sei Investments Co. Increases Stock Holdings in SiBone $SIBN

Sei Investments Co. grew its stake in shares of SiBone (NASDAQ:SIBN) by 67.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,769 shares of the company’s stock after purchasing an additional 114,582 shares during the quarter. Sei Investments Co.’s holdings in SiBone were worth $3,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of SIBN. Royal Bank of Canada grew its position in shares of SiBone by 98.5% in the 4th quarter. Royal Bank of Canada now owns 1,483 shares of the company’s stock valued at $29,000 after buying an additional 736 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in SiBone by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,426 shares of the company’s stock worth $343,000 after acquiring an additional 1,053 shares in the last quarter. Larson Financial Group LLC raised its stake in SiBone by 42.3% during the 4th quarter. Larson Financial Group LLC now owns 3,569 shares of the company’s stock worth $70,000 after acquiring an additional 1,061 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in SiBone by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,159 shares of the company’s stock valued at $733,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Calamos Advisors LLC lifted its position in SiBone by 14.6% in the fourth quarter. Calamos Advisors LLC now owns 11,484 shares of the company’s stock valued at $226,000 after acquiring an additional 1,465 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Insider Activity at SiBone

In other SiBone news, Director Jeffrey W. Dunn sold 20,000 shares of SiBone stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $18.46, for a total value of $369,200.00. Following the transaction, the director directly owned 16,057 shares in the company, valued at approximately $296,412.22. This trade represents a 55.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Pisetsky sold 3,134 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $16.71, for a total value of $52,369.14. Following the completion of the transaction, the senior vice president directly owned 277,375 shares in the company, valued at approximately $4,634,936.25. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 55,989 shares of company stock worth $910,429 in the last ninety days. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SIBN shares. Weiss Ratings lowered SiBone from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Truist Financial reissued a “buy” rating and issued a $23.00 target price (up from $21.00) on shares of SiBone in a research report on Tuesday. UBS Group raised their price target on SiBone from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen lifted their price target on SiBone from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen cut SiBone from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, SiBone has an average rating of “Moderate Buy” and a consensus target price of $24.29.

SiBone Trading Up 0.6%

NASDAQ SIBN opened at $18.14 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 9.15. The firm has a market cap of $804.51 million, a PE ratio of -53.35 and a beta of 0.66. SiBone has a one year low of $11.48 and a one year high of $21.89. The firm’s fifty day moving average is $16.53 and its two-hundred day moving average is $15.14.

SiBone (NASDAQ:SIBN) last announced its earnings results on Monday, August 3rd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.06. The business had revenue of $56.01 million during the quarter, compared to the consensus estimate of $55.34 million. SiBone had a negative net margin of 6.85% and a negative return on equity of 8.23%. Analysts expect that SiBone will post -0.4 earnings per share for the current year.

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.