Harbor Capital Advisors Inc. Grows Stock Position in SiBone $SIBN

Key Points

• Harbor Capital Advisors Inc. increased its stake in SiBone (NASDAQ:SIBN) by 7.7% during Q2, owning 573,705 shares worth approximately $10.8 million at the quarter's end.
• Several institutional investors made significant alterations to their holdings in SiBone, leading to hedge funds and institutional investors owning 98.11% of the stock.
• SiBone reported better-than-expected quarterly earnings, with an EPS of ($0.14), exceeding the consensus estimate of ($0.19) by $0.05.

Harbor Capital Advisors Inc. raised its position in shares of SiBone (NASDAQ:SIBN - Free Report) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 573,705 shares of the company's stock after buying an additional 40,993 shares during the period. Harbor Capital Advisors Inc. owned about 1.35% of SiBone worth $10,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of SiBone by 28.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 379,757 shares of the company's stock worth $5,328,000 after buying an additional 83,919 shares during the last quarter. Voya Investment Management LLC boosted its holdings in SiBone by 26.9% in the first quarter. Voya Investment Management LLC now owns 30,818 shares of the company's stock valued at $432,000 after acquiring an additional 6,526 shares in the last quarter. Rhumbline Advisers increased its position in SiBone by 3.6% during the 1st quarter. Rhumbline Advisers now owns 59,721 shares of the company's stock valued at $838,000 after purchasing an additional 2,100 shares during the period. Jane Street Group LLC bought a new position in SiBone in the 1st quarter worth $1,818,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of SiBone in the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 98.11% of the company's stock.

SiBone Stock Performance

Shares of SIBN stock traded down $0.58 during mid-day trading on Friday, reaching $14.60. 825,770 shares of the company's stock traded hands, compared to its average volume of 313,574. The firm has a market capitalization of $629.84 million, a PE ratio of -26.07 and a beta of 0.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 7.00 and a current ratio of 8.38. The firm has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $16.34. SiBone has a 12 month low of $11.70 and a 12 month high of $20.05.

SiBone (NASDAQ:SIBN - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. SiBone had a negative return on equity of 14.20% and a negative net margin of 12.83%.The company had revenue of $48.63 million during the quarter, compared to the consensus estimate of $48.12 million. SiBone has set its FY 2025 guidance at EPS. On average, research analysts forecast that SiBone will post -0.78 EPS for the current year.

Insider Buying and Selling

In other SiBone news, CFO Anshul Maheshwari sold 5,005 shares of SiBone stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $18.34, for a total value of $91,791.70. Following the completion of the transaction, the chief financial officer directly owned 217,078 shares of the company's stock, valued at $3,981,210.52. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael A. Pisetsky sold 3,329 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.64, for a total value of $52,065.56. Following the completion of the sale, the senior vice president directly owned 258,352 shares of the company's stock, valued at $4,040,625.28. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,590 shares of company stock worth $765,137 in the last quarter. 4.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SIBN shares. Cantor Fitzgerald set a $25.00 price objective on shares of SiBone and gave the stock an "overweight" rating in a report on Monday, August 11th. Wall Street Zen cut SiBone from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $23.67.

SiBone Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.