43,397 SiBone $SIBN Shares Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its SiBone stake by 96.7%, selling 43,397 shares in the third quarter and retaining 1,498 shares worth about $28,000.
• Analysts have a Moderate Buy consensus on SIBN, with an average price target of $25; seven analysts rate it Buy and one rates it Sell.
• SiBone beat quarterly earnings expectations, reporting a loss of $0.08 per share versus analysts’ expected loss of $0.13, while revenue of $55.7 million also topped estimates.

Sterling Capital Management LLC decreased its holdings in shares of SiBone (NASDAQ:SIBN - Free Report) by 96.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,498 shares of the company's stock after selling 43,397 shares during the period. Sterling Capital Management LLC's holdings in SiBone were worth $28,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of SiBone by 102.9% during the second quarter. Versant Capital Management Inc now owns 1,749 shares of the company's stock valued at $29,000 after purchasing an additional 887 shares in the last quarter. State of Wyoming increased its holdings in shares of SiBone by 70.8% in the 1st quarter. State of Wyoming now owns 10,832 shares of the company's stock valued at $137,000 after acquiring an additional 4,490 shares during the period. Inceptionr LLC bought a new position in shares of SiBone in the 1st quarter worth $156,000. ADAR1 Capital Management LLC bought a new position in shares of SiBone in the 1st quarter worth $159,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in SiBone in the first quarter valued at about $204,000. Institutional investors own 98.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SIBN shares. Citigroup reiterated a "market outperform" rating on shares of SiBone in a research note on Tuesday. Truist Financial raised their target price on shares of SiBone from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, October 14th. Needham & Company LLC cut their price target on shares of SiBone from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday. TD Cowen upped their price target on SiBone from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Weiss Ratings raised SiBone from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 20th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, SiBone presently has an average rating of "Moderate Buy" and an average target price of $25.00.

Insider Buying and Selling at SiBone

In related news, insider Anshul Maheshwari sold 11,636 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $20.11, for a total transaction of $233,999.96. Following the completion of the transaction, the insider directly owned 223,284 shares in the company, valued at $4,490,241.24. The trade was a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Dunn sold 20,000 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $18.47, for a total transaction of $369,400.00. Following the completion of the sale, the director directly owned 16,057 shares in the company, valued at approximately $296,572.79. The trade was a 55.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 258,371 shares of company stock valued at $5,156,716. Company insiders own 4.00% of the company's stock.

SiBone Stock Performance

SIBN opened at $24.27 on Friday. SiBone has a 12-month low of $11.48 and a 12-month high of $25.92. The company has a current ratio of 7.58, a quick ratio of 7.55 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.09 billion, a PE ratio of -78.29 and a beta of 0.64. The firm has a 50 day moving average of $19.71 and a two-hundred day moving average of $16.56.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. The business had revenue of $55.70 million during the quarter, compared to analysts' expectations of $55.31 million. SiBone had a negative net margin of 6.20% and a negative return on equity of 7.57%. On average, analysts anticipate that SiBone will post -0.34 EPS for the current year.

SiBone Company Profile

SI-BONE, Inc NASDAQ: SIBN is a medical device company focused on diagnosing and treating disorders of the sacroiliac joint, which connects the spine to the pelvis. The company develops minimally invasive surgical solutions intended to stabilize the sacroiliac joint and address sacroiliac joint dysfunction and related conditions.

Its product portfolio is centered on the iFuse Implant System, a family of triangular implants designed to be placed across the sacroiliac joint. SI-BONE also offers products such as iFuse-TORQ, a threaded implant system, and iFuse Bedrock Granite, which is designed for sacroiliac joint fusion and pelvic fixation as part of certain spinal procedures.

Want to see what other hedge funds are holding SIBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SiBone (NASDAQ:SIBN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.